H.R. 2329: Uzbekistan Normalized Trade Act

This bill, titled the Uzbekistan Normalized Trade Act, aims to change the trade status of products from Uzbekistan. Here’s a simple breakdown of what the bill proposes:

1. Normal Trade Relations Treatment

The bill would allow the President of the United States to provide "nondiscriminatory treatment," also known as "normal trade relations treatment," to products imported from Uzbekistan. This means that goods from Uzbekistan would no longer be subjected to additional tariffs or trade restrictions that are currently imposed under the Trade Act of 1974.

2. Presidential Authority

The bill grants the President the authority to make a determination regarding the current trade status of Uzbekistan. Specifically, the President can:

• Decide that the provisions of Title IV of the Trade Act of 1974, which currently govern trade with Uzbekistan, are no longer applicable.
• After this decision, officially proclaim that products from Uzbekistan will receive nondiscriminatory treatment.

3. Applicability of Trade Act provisions

Once the President proclaims the extension of nondiscriminatory treatment, the specific provisions outlined in Title IV of the Trade Act of 1974 will no longer apply to Uzbekistan.

4. Effective Date

The bill's provisions would take effect on the date when the President certifies to Congress that Uzbekistan has become a member of the World Trade Organization (WTO) and has also ratified the Marrakesh Agreement that established the WTO.

5. Summary of Effects

If this legislation is passed and the conditions are met, it would facilitate easier trade relations between the U.S. and Uzbekistan by removing restrictions and potentially enhancing economic exchanges of goods.

Relevant Companies

None found.