Amends the Trade Act of 1974 to direct the President to increase duties and impose other import restrictions on products of China that are being imported into the United States in such increased quantities or under such conditions as to cause or threaten to cause market disruption to the U.S. producers of a like or directly competitive product.Directs the International Trade Commission (ITC), upon the filing of a petition by an entity requesting relief from injury caused by import competition, upon the request of the President or the United States Trade Representative (USTR), upon resolution of specified congressional committees, or on its own motion, to promptly initiate an investigation to determine whether the products of China are being imported into the United States in such increased quantities or under such conditions as to cause or threaten to cause market disruption to the U.S. producers of like or directly competitive products.
Subjects such investigations to certain requirements of the Trade Act of 1974 regarding limitations on investigations of injuries from import competition and procedures concerning the release of confidential business information.Declares a market disruption to exist whenever imports of an article like or directly competitive with an article produced by a domestic industry are increasing rapidly, either absolutely or relatively, so as to be a significant cause of material injury, or threat of material injury, to the domestic industry.Directs the ITC, if it makes an affirmative determination that market disruption exists, to propose the amount of increase in, or imposition of, any duty or other import restrictions necessary to prevent or remedy the market disruption.
Requires the ITC to report to the President and the USTR with respect to its determination, including any recommendations.
Requires the USTR to provide notice and the opportunity for public comment with respect to any proposed measure of the ITC.Directs the ITC to take certain actions with respect to a petition which alleges that critical circumstances exist and requests relief with respect to a particular product.
Requires the ITC in such cases:
(1) to determine whether delay in taking action would cause damage to the domestic industry which would be difficult to repair; and
(2) if there is an affirmative determination, to make a preliminary determination of whether imports of the product which is the subject of the investigation have caused or threatened to cause market disruption.
Requires the President, within ten days after receiving the USTR's recommendation with respect to an affirmative determination, to determine whether to provide provisional relief in the form of:
(1) the imposition of or increase in any duty;
(2) any modification, or imposition of any quantitative restriction on the importation of an article into the United States; or
(3) any combination of such actions.Authorizes the USTR to enter into agreements with China to take any action necessary to prevent or remedy market disruption.
Urges the USTR to seek to conclude such agreements within a specified time period.
Directs the President, if it is in the national economic interest of the United States, to impose or increase the duties, or impose other restrictions, on the products of China if no agreement is reached or if the President determines that an agreement is not preventing or remedying the market disruption.Directs the USTR, in cases where a WTO member (other than the United States) requests consultations with China under the product-specific safeguard provision of the Protocol of Accession of the People's Republic of China to the WTO, to inform the U.S. Customs Service, which shall monitor imports into the United States of those Chinese products that are the subject of the consultation request.Directs the ITC, upon the filing of a petition by an entity requesting relief from injury caused by import competition, upon the request of the President or the USTR, upon resolution of specified congressional committees, or on its own motion, to promptly initiate an investigation to determine whether specified actions by China or a WTO member (other than the United States) has caused or threatens to cause a significant diversion of trade into the domestic market of the United States.Authorizes the USTR to enter into agreements with China or other WTO members to take any action necessary to prevent or remedy significant trade diversion, or its threat, into the domestic market of the United States. Urges the USTR to conclude such agreements within a specified time period.
Requires the President, within 20 days after receiving the USTR's recommendation concerning the trade diversion, to determine what action to take to prevent or remedy such diversion or its threat.
Requires the ITC to review the continued need for trade relief taken under this Act if a WTO member notifies the Committee on Safeguards of the WTO of any modification in the action taken by them against China.Directs the President to provide by regulation for the efficient and fair administration of any restriction imposed under this Act.