Sec. 71032. Assessment of overcapacity of industries in the People's Republic of China
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Not later than one year after the date of the enactment of this Act, and annually thereafter, the United States Trade Representative, in consultation with the Secretary of Commerce, shall submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives a report on overcapacity of industries in the People’s Republic of China. The report required by paragraph
(1)shall include— a determination on whether overcapacity resulting from industrial policy exists in any major industry in the People’s Republic of China; and a description of the effects of that overcapacity on industry in the United States. Not later than 180 days after a positive determination of overcapacity under subsection (a)(2)(A), the Trade Representative shall brief the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives regarding the steps taken to address that overcapacity, which may include— discussions with allies; negotiations at an appropriate multilateral institution to which the United States is a party; and bilateral negotiations with the People’s Republic of China. Not later than each of one year and two years after a briefing under subsection
(b)with respect to a positive determination of overcapacity under subsection (a)(2)(A), the Trade Representative shall submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives a report containing a determination of whether the steps taken to address that overcapacity are likely to lead to a substantive reduction in that overcapacity.