S. 974 would amend title VII of the Tariff Act of 1930 to provide that the provisions relating to countervailing duties apply to nonmarket economy countries.
Detailed Summary
Stopping Overseas Subsidies Act - Amends the Tariff Act of 1930 to apply countervailing duties to nonmarket economies.
Authorizes the use of alternative methodologies in determining whether a subsidy is countervailable with respect to the People's Republic of China (PRC).
Requires congressional approval for revocation of nonmarket economy country determinations made by the administering authority.
Requires a United States International Trade Commission study of how the PRC uses government intervention to promote investment, employment, and exports.
Status of the Legislation
Latest Major Action: 3/22/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
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