Section 301 of the Trade Act of 1974 is the principal statutory authority under which the United States may impose trade sanctions against countries that violate or deny U.S. rights under trade agreements, or that place an unreasonable burden on U.S. commerce. The section grants the United States Trade Representative (USTR) broad authority to take a variety of countermeasures against foreign practices that unduly burden U.S. trade.
The China Currency Coalition filed a Section 301 petition with the USTR on September 9, 2004. USTR rejected the petition the same day.
The Section 301 Petition is available as a downloadable PDF.
Download Here (282kbs)
The Section 301 Petition Exhibits: Attachment
Download Here (Please note: this file is 3.2mbs)
On April 20, 2005, the Congressional China Currency Action Coalition, comprising 35 Senators and Representatives, filed essentially the same petition. USTR must determine within 45 days of the filing of the petition whether an investigation is justified. Following are the members of the China Currency Action Coalition:
Rep. Nancy Pelosi
Sen. Charles E. Schumer