§ 1248. MULTILATERAL STRATEGY TO ADDRESS OFFSETS.

282 words·~1 min read·/usc/title-50/section-1248

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In General .— The President shall initiate a review to determine the feasibility of establishing, and the most effective means of negotiating, a multilateral treaty on standards for the use of offsets in international defense trade, with a goal of limiting all offset transactions that are considered injurious to the economy of the United States. Report Required .— Not later than 90 days after the date on which the Commission submits the report required under section 1247(d), the President shall submit to the appropriate congressional committees a report containing the President’s determination pursuant to subsection (a), and, if the President determines a multilateral treaty is feasible or desirable, a strategy for United States negotiation of such a treaty.

One year after the date the report is submitted under the preceding sentence, and annually thereafter for 5 years, the President shall submit to the appropriate congressional committees a report detailing the progress toward reaching such a treaty. Required Information .— The report required by subsection

(b)shall include— a description of the United States efforts to pursue multilateral negotiations on standards for the use of offsets in international defense trade; an evaluation of existing multilateral fora as appropriate venues for establishing such negotiations; a description on a country-by-country basis of any United States efforts to engage in negotiations to establish bilateral treaties or agreements with respect to the use of offsets in international defense trade; and an evaluation on a country-by-country basis of any foreign government efforts to address the use of offsets in international defense trade. Comptroller General Review .— The Comptroller General of the United States shall monitor and periodically report to Congress on the progress in reaching a multilateral treaty.”