22 USC 290k-3 - Opposition to certain guarantees or investment promotions; independent evaluation of guaranteed investments

U.S Code last checked for updates: Nov 22, 2024

§ 290k–3.

Opposition to certain guarantees or investment promotions; independent evaluation of guaranteed investments

Consistent with the purposes of section 290k–2 of this title, the Secretary of the Treasury shall—

(1)

(A)

be in any country which is not a beneficiary developing country for purposes of title V of the Trade Act of 1974 [19 U.S.C. 2461 et seq.] because it has not taken or is not taking steps to afford internationally-recognized workers’ rights to workers in that country;

(B)

be subject to trade-distorting performance requirements imposed by the host country that are likely to result in a significant net reduction in—

(i)

employment in the United States; or

(ii)

other trade benefits likely to accrue to the United States from the investment; or

(C)

likely increase a country’s productive capacity in an industry already facing excess worldwide capacity for the same, similar or competing product, and cause substantial injury to producers of such products in the United States; and

(2)

within 12 months after the United States becomes a member of the Agency and each year thereafter for the 3 succeeding years, conduct an independent evaluation of the United States investments which have been guaranteed by the Agency to determine—

(A)

the anticipated net impact of such investments on employment in and exports from the United States, and

(B)

the extent to which such investments were made in countries which had not taken or are not taking steps to afford internationally-recognized workers’ rights to workers in those countries.

In the course of conducting each evaluation required under paragraph (2), the Secretary shall actively solicit and take into account the views of United States labor organizations. The Secretary shall furnish a copy of each such evaluation on its completion to the Congress.

(Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)

cite as: 22 USC 290k-3