Summary: H.J.Res.105 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.J.Res.105. Bill summaries are authored by CRS.

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Introduced in House (07/11/2002)

Textile and Apparel Recognition Act - Calls upon the President to: (1) ensure enforcement of U.S. trade laws with respect to trade practices resulting in harm to the U.S. textile and apparel industry; (2) ensure enforcement of international trade agreements with respect to the U.S. textile and apparel industry, including existing safeguard remedies available under the World Trade Organization and the North American Free Trade Agreement; (3) ensure enforcement of existing quota and tariff regulations to prevent further illegal circumvention of the U.S. textile import restraint program; (4) deny requests from trading partners of the United States for unilateral liberalization by the United States of its textile and apparel market other than that provided for under existing international trade agreements; and (5) implement strategies to open foreign markets to provide equitable access for goods exported by the U.S. textile and apparel industry.

Directs the President when conducting negotiations to enter into trade agreements with other countries to take into account potential foreign currency devaluations so that such countries do not receive the benefit of reduced tariffs while at the same time making their exports more cost-competitive on the international market through such currency devaluations. Requires the President to report annually to Congress on the ability of the U.S. textile manufacturing sector to compete with the textile industry in other countries when foreign currencies are devalued.