22 U.S.C. § 290k–2: Instructions for United…

Summary

Upon taking office and before the Agency issues its first guarantee, the U.S. Director must seek Board approval of rules barring guarantees for investments: in countries not protecting internationally recognized workers’ rights; tied to trade‑distorting performance rules likely to cause significant net losses to the U.S. or other members; or adding capacity in industries with excess global capacity that would cause substantial injury to producers in another member country.

Title 22, §290k–2

Foreign Relations and Intercourse, Source: USLM XML via OLRC

Immediately after taking office and prior to the issuance by the Agency of its first guarantee, the United States Director of the Agency shall propose and actively seek the adoption by the Board of Directors of policies and procedures under which the Agency will not issue guarantees in respect of any proposed investment that would—

(1)be in any country which has not taken or is not taking steps to afford internationally recognized workers’ rights to workers in that country;

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

(A)employment in the United States or other member countries; or

(B)other trade benefits likely to accrue to the United States or other member countries from the investment; or

(3)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 product in another member country.

Editorial Notes

Codification Section is based on section 405 of title IV of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202.

§290k–2 Instructions for United States Director

Summary

Title 22, §290k–2

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata