A bill to approve and implement the protocol to the trade agreement relating to customs valuation, and for other purposes.
Public Law 96-490 · H.R. 7942 · 96th Congress · began in the House
Signed by Jimmy Carter (D) on Dec 2, 1980 · Foreign Trade and International Finance
Sponsor: Rep. Charles Vanik (D-OH-22)
Cosponsors (1): Rep. William Frenzel
Passage votes
- HouseMethod not stated
- SenateMethod not stated
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Approves the Protocol to the Agreement on Implementation of Article VII (Customs Valuation) of the General Agreement on Tariffs and Trade and the administrative action implementing such agreement. Authorizes the President to accept such Protocol if each major industrial country also accepts such Protocol. Makes such Protocol applicable only with regard to other countries which have accepted the obligations of such Protocol and are not otherwise denying adequate trade benefits to the United States. Specifies the relationship of such Protocol to U.S. law.
Amends the Tariff Act of 1930, as amended by the Trade Agreements Act of 1979, to repeal a provision for accepting the transaction value, for purposes of customs valuation, of imported merchandise in a sale between a related buyer and seller if such value approximates the transaction value in sales to unrelated buyers of identical merchandise produced in a different country.
Amends the Tariff Schedules of the United States to make technical revisions in the tariff classifications of various chemicals. Authorizes the President to proclaim tariffs on specified chemicals. Subjects specified chemicals to any staged rate reductions proclaimed by the President for other specified chemical classifications.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 12 actions.
- Dec 2, 1980Became lawBecame law · Signed by President.
- PresidentPresident · Public Law 96-490.
- Nov 21, 1980PresidentPresident · Measure presented to President.
- PresidentPresident · Measure enrolled in Senate.
- PresidentPresident · Measure enrolled in House.
- Nov 17, 1980FloorFloor · Measure passed Senate.
- FloorFloor · Measure called up by unanimous consent in Senate.
- Nov 14, 1980FloorFloor · Measure passed House.
- FloorFloor · Measure called up by unanimous consent in House.
- Sep 18, 1980CommitteeCommittee · Reported by House Ways and Means Committee
- Aug 18, 1980CommitteeCommittee · Referred to House Ways and Means Committee
- IntroducedIntroduced · Introduced in the House
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.