PRESCRIBING THE PROCEDURES FOR PERIOCIC REVIEW OF ESCAPE-CLAUSE MODIFICATION OF TRADE-AGREEMENT CONCESSIONS
By virtue of the authority vested in me by the Constitution and the statues, including section 332 of the Tariff Act of 1930 (46 Stat. 698), the Trade Agreements Act approved June 12, 1934, as amended (48 Stat. 943; 57 Stat. 125; 59 Stat. 410; 63 Stat. 697; Public Law 50, 82d Congress), and the Trade Agreements Extension Act of 1951 (public Law 50, 82d Congress); and in the interest of the foreign-affairs functions of the United States, in order to carry out international obligations of the United States, and in order that the interests of the various branches of American economy may be effectively promoted and safeguarded in the administration of the trade-agreements program, it is hereby ordered as follows:
1. So long as a trade-agreement concession remains withdrawn, suspended, or modified, in whole or in part, pursuant to action taken under section 7 of the Trade Agreements Extension Act of 1951 or comparable provisions of any statute or Executive order, the Tariff Commission shall keep under review developments with regard to the product to which such concession relates, and shall make periodic reports to the President concerning such developments. The first such report shall in each case be made at such time, not more than two years after the original withdrawal, suspension, or modification of the trade-agreement concession, as will best enable it to be based upon a full marketing year for the product involved, and any requirement of this paragraph for a periodic report within six months before or after the date of its submission.
2. Whenever in the judgment of the Tariff Commission conditions of competition with respect to the trade in the imported article and the like or directly competitive domestic product concerned have so changed as to warrant it, or upon request of the President, the Commission shall institute a formal investigation to determine whether, and, if so, to what extent, the withdrawal, suspension, or modification of a trade-agreement concession remains necessary in order to prevent or remedy serious injury or the threat thereof to the domestic industry concerned. As a part of any such investigation, the Commission shall hold a hearing at which interested parties shall be given reasonable opportunity to be present, to produce evidence, and to be heard. Upon completion of such an investigation the Commission shall report to the President its findings as to what extent, if any, the withdrawal, suspension, or modification involve remains necessary in order to prevent or remedy serious injury or the threat thereof too the domestic industry concerned. The Commission may prescribe such rules and regulations for the conduct of investigations under this paragraph as it shall deem appropriate.
HARRY S. TRUMAN
THE WHITE HOUSE,
October 14, 1952