Summary: S.1392 — 104th Congress (1995-1996)All Information (Except Text)

There is one summary for S.1392. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (11/03/1995)

Emergency Lumber Act of 1995 - Imposes a 25 percent ad valorem duty on imported Canadian wood and lumber products.

Requires the administering authority to initiate a countervailing duty investigation with respect to such products.

Declares that the President is authorized to negotiate with free trade area countries for the purpose of entering into an agreement to modify certain terms of the North American Free Trade Agreement (NAFTA) and the United States-Canada Free-Trade Agreement to provide that: (1) the exclusive review by binational panels shall not apply to antidumping and countervailing duty determinations involving their merchandise; and (2) such determinations shall be subject to judicial review in the same manner as determinations made with respect to non-free trade area countries.

Declares further that: (1) such negotiations shall not affect the rights of the United States or a free trade area country to apply its domestic antidumping and countervailing duty laws to the imports of another country; and (2) if an agreement has been entered into pursuant to such negotiations, the President shall submit implementing legislation to the Congress.

Extends "fast track" procedures to such legislation.

Applies the requirements of this Act to goods from Canada or Mexico.