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S. 1644 (104th): A bill to authorize the extension of nondiscriminatory treatment (most-favored-nation) to the products of Romania.


The text of the bill below is as of Mar 26, 1996 (Introduced). The bill was not enacted into law.


S 1644 IS

104th CONGRESS

2d Session

S. 1644

To authorize the extension of nondiscriminatory treatment (most-favored-nation treatment) to the products of Romania.

IN THE SENATE OF THE UNITED STATES

March 26, 1996

Mr. BROWN (for himself, Mr. SIMON, Mr. GRASSLEY, and Mr. BAUCUS) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To authorize the extension of nondiscriminatory treatment (most-favored-nation treatment) to the products of Romania.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. FINDINGS.

    The Congress finds that--

      (1) Romania emerged from years of brutal Communist dictatorship in 1989 and approved a new Constitution and elected a Parliament by 1991, laying the foundation for a modern parliamentary democracy charged with guaranteeing fundamental human rights, freedom of expression, and respect for private property;

      (2) local elections, parliamentary elections, and presidential elections have been held in Romania and 1996 will mark the second nationwide presidential elections under the new Constitution;

      (3) Romania has undertaken significant economic reforms, including the establishment of a two-tier banking system, the introduction of a modern tax system, the freeing of most prices and elimination of most subsidies, the adoption of a tariff-based trade regime, and the rapid privatization of industry and nearly all agriculture;

      (4) Romania concluded a bilateral investment treaty with the United States in 1993, and both United States investment in Romania and bilateral trade are increasing rapidly;

      (5) Romania has received most-favored-nation treatment since 1993, and has been found by the President to be in full compliance with the freedom of emigration requirements under title IV of the Trade Act of 1974;

      (6) Romania is a member of the World Trade Organization and extension of unconditional most-favored-nation treatment to the products of Romania would enable the United States to avail itself of all rights under the World Trade Organization with respect to Romania; and

      (7) Romania has demonstrated a strong desire to build friendly relationships and to cooperate fully with the United States on trade matters.

SEC. 2. TERMINATION OF APPLICATION OF TITLE IV OF THE TRADE ACT OF 1974 TO ROMANIA.

    (a) PRESIDENTIAL DETERMINATIONS AND EXTENSION OF NONDISCRIMINATORY TREATMENT- Notwithstanding any provision of title IV of the Trade Act of 1974 (19 U.S.C. 2341 et seq.), the President may--

      (1) determine that such title should no longer apply to Romania; and

      (2) after making a determination under paragraph (1), proclaim the extension of nondiscriminatory treatment (most-favored-nation treatment) to the products of that country.

    (b) TERMINATION OF APPLICATION OF TITLE IV- On and after the effective date of the extension under subsection (a)(2) of nondiscriminatory treatment to the products of Romania, title IV of the Trade Act of 1974 shall cease to apply to that country.