§2435 Commercial Agreements

Summary

The President may allow two-country trade deals that give the same treatment to products from countries that used to be denied it, if he finds those deals help the goals of this law and are in the national interest. Each deal must start for no more than 3 years, though it can be renewed in periods no longer than 3 years if the parties keep a fair balance of trade concessions and the President finds that any cuts in U.S. tariffs or other barriers from multilateral talks are properly matched by the other country. The agreement must let the United States suspend or end it for national security reasons, include quick consultations and possible import limits to stop market harm, handle disputes, and provide commercial arrangements that promote trade. If the other country is not a member of the Paris Convention, the deal must give U.S. citizens patent and trademark rights at least as strong as that convention; if not a party to the Universal Copyright Convention, it must give equivalent copyright rights. Agreements made or renewed after January 3, 1975 must also protect industrial rights and help trade promotion and travel for commercial representatives. Such an agreement and any Presidential proclamation putting it into effect only start to apply if a joint resolution described in section 2191(b)(3) that approves the agreement is passed into law.