Presidential proclamations liberalizing imports
Whenever the President determines that fundamental international payments problems require special import measures to increase imports—
(1)#
to deal with large and persistent United States balance-of-trade surpluses, as determined on the basis of the cost-insurance-freight value of imports, as reported by the Bureau of the Census, or
(2)#
to prevent significant appreciation of the dollar in foreign exchange markets,
(A)#
a temporary reduction (of not more than 5 percent ad valorem) in the rate of duty on any article; and
(B)#
a temporary increase in the value or quantity of articles which may be imported under any import restriction, or a temporary suspension of any import restriction.
Import liberalizing actions proclaimed pursuant to this subsection shall be of broad and uniform application with respect to product coverage except that the President shall not proclaim measures under this subsection with respect to those articles where in his judgment such action will cause or contribute to material injury to firms or workers in any domestic industry, including agriculture, mining, fishing, or commerce, or to impairment of the national security, or will otherwise be contrary to the national interest.