forcefully reject the European Community's proposal to rebalance import protections.

SEC. 1560. SENSE OF THE SENATE REGARDING MULTILATERAL TRADE NEGOTIATIONS.

(a) IN GENERAL.-It is the sense of the Senate that the objective of the Uruguay Round of Multilateral Trade Negotiations concerning agricultural trade should be to

(1) obtain a reform of global agricultural trade and an elimination of the policies and practices that distort agricultural trade; and

(2) to reach an agreement that—

(A) provides United States farmers and agricultural community with the opportunity to compete fairly in international markets;

(B) permits United States farmers to have a safety net to protect them against market instability;

(C) assures consumers of an adequate supply of high quality food and fiber at reasonable prices, both now and in the future; and

(D) assures that humanitarian food needs are met.

(b) CONDUCT OF NEGOTIATIONS.-It is the sense of the Senate that, in conducting the agricultural trade negotiations in the Uruguay Round of Multilateral Trade Negotiations and in meeting the principal negotiating objectives contained in section 1101(b) of the Omnibus Trade and Competitiveness Act of 1988 and in this section, the United States should

(1) ensure that any agreement

(A) is beneficial to United States agricultural producers and businesses;

(B) does not leave an individual commodity vulnerable to unfair treatment or increased barriers and that the various sectors of United States agriculture receive equitable and fair treatment;

(C) permits countries to provide income support and stability from the vagaries of the market directly or indirectly through self-help efforts;

(D) provides a period of adjustment in cases where the reduction or elimination of trade barriers or subsidies would cause industry adjustment and resource reallocation; and

(E) does not sacrifice the interests of the agricultural sector for other sectors of the United States economy; (2) seek the immediate elimination of all export subsidies that are conditioned on the export of agricultural commodities and products, except bona fide food aid;

(3) not enter into any self-executing agreement that would unduly restrict the authority of the United States to provide for the stabilization of its agricultural economy;

(4) not enter into any agreement that would have the effect of repealing or materially interfering with any existing legal authority designed to promote or protect any domestic agricultural program, the purpose of which is to stabilize prices, or eliminate any existing waiver granted to the United States

under the General Agreement on Tariffs and Trade permitting the imposition of quantitative limitations on the entry of commodities into the United States unless the agreement meets the objectives described in this section; and

(5) ensure that any provision for special and differential treatment for developing countries contains guidelines and limitations providing for the phasing out of such treatment as such countries become more competitive.

SUBTITLE F-CONFORMING PROVISIONS AND TECHNICAL CHANGES 15

15 Subtitle F amended the Omnibus Trade and Competitiveness Act of 1988, the Food Security Act of 1985, the Agriculture and Food Act of 1981, the Food for Peace Act of 1966, the Agricultural Act of 1949, the Agricultural Act of 1956, the Agricultural Technical Corrections Act (Public Law 101-220; 7 U.S.C. 1736cc), and the Agricultural Act of 1970.

d. Mickey Leland Food for Peace Act

Subtitle A of title XV of Public Law 101–624 [Food, Agriculture, Conservation, and Trade Act of 1990; S. 2830], 104 Stat. 3359 at 3633, approved November 28, 1990

NOTE.-The Food, Agriculture, Conservation, and Trade Act of 1990 amended several other Public Laws; these amendments are incorporated into the texts of these Acts at the appropriate locations. Subtitle A of title XV, the Mickey Leland Food for Peace Act, appears below. Title XV, the Agricultural Development and Trade Act of 1990, may be found at page 1392; freestanding sections of Public Law 101-624 may be found at page 1386. Title XXIV, the Global Climate Change Prevention Act of 1990, may be found in Legislation on Foreign Relations Through 1991, vol. IV, sec. L.

AN ACT To extend and revise agricultural price support and related programs, to provide for agricultural export, resource conservation, farm credit, and agricultural research and related programs, to ensure consumers an abundance of food and fiber at reasonable prices, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

TITLE XV-AGRICULTURAL TRADE

SEC. 1501.1 SHORT TITLE.

This title may be cited as the "Agricultural Development and Trade Act of 1990".

SUBTITLE A-AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE ACT OF 1954

SEC. 1511.2 SHORT TITLE.

This subtitle may be cited as the "Mickey Leland Food for Peace Act".

17 U.S.C. 1691 note. For text of the freestanding sections of the Agricultural Development and Trade Act of 1990, see page 1386.

27 U.S.C. 1691 note.

SEC. 1512. AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE ACT

OF 1954.

The Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1691 et seq.) is amended to read as follows:

SEC. 1517. DEBT-FOR-HEALTH-AND-PROTECTION SWAP.

(a) DEFINITION.-For purposes of this section, the term "debt-forhealth-and-protection swap" means the voluntary cancellation of the foreign debt of the government of a foreign country in exchange for

(1) the making available by such country, to a grantee under subsection (b), local currencies (including through the issuance of bonds) to be used only for eligible projects involving the research, study, prevention, or control of animal and plant pests and diseases in that country; or

(2) the financial and policy commitment of such country to research, study, prevent, or control animal and plant pests and diseases in that country.

(b) ASSISTANCE FOR COMMERCIAL DEBT SWAP.—

(1) GRANTS.-The Secretary is authorized to furnish assistance in the form of grants, on such terms and conditions as the Secretary determines to be necessary and appropriate, to United States and foreign nongovernmental organizations, including colleges and universities, for the purchase of discounted external commercial debt of a foreign government (on the secondary market) to be canceled under the terms of an agreement that is entered into by the Secretary with that government as part of a debt-for-health-and-protection swap.

(2) INTEREST ON GRANTS.-The recipient of a grant under this section (or any subgrantee of such recipient) may retain the interest earned on the proceeds of any resulting debt-for-healthand-protection swap if such recipient (or subgrantee) disburses such funds for approved program purposes, and such interest need not be deposited in the Treasury of the United States and is not subject to further appropriations by Congress.

(3) REINVESTMENT OF INTEREST.-Interest accrued in accordance with paragraph (2) shall be reinvested by the recipient of the grant under this section in an approved project in the host country or used for the establishment of an endowment for the purpose for which the grant was provided. (c) ELIGIBLE PROJECTS.

(1) MUTUAL BENEFIT.-The Secretary shall ensure that a debt-for-health-and-protection swap under this section is designed to be of mutual benefit to both the agricultural sector of the United States and the agricultural sector of the recipient country.

(2) IDENTIFICATION OF IMMEDIATE AREAS OF NEED.-In cooperation with the Agency for International Development, international organizations, domestic or foreign nongovernmental or

3 Sec. 1512 amended the Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1691 et seq.). For text, see page 1347.

47 U.S.C. 1706.

ganizations, colleges, and universities, the Secretary shall attempt to identify those areas which, because of their imminent threat to agriculture, are in particular need of immediate attention in terms of supporting and promoting the prevention or control of plant and animal pests and diseases in the Western Hemisphere.

(d) TERMS AND CONDITIONS OF THE EXCHANGE.

(1) REGULATIONS.-Not later than 180 days after the date of enactment of this Act, the Secretary shall issue regulations to implement this section. Such regulations shall include provisions

(A) that describe the general terms and conditions necessary for any proposed exchange to gain approval under paragraph (2); and

(B) to protect against the use of any assistance provided under subsection (b) that is contrary to the provisions of this section.

(2) OTHER ASSISTANCE.-Grants made under this section are intended to supplement, and not to be a substitute for, any assistance that is otherwise available to a foreign country from the Department of Agriculture.

(3) PROHIBITION.-The Department of Agriculture is prohibited from accepting any title or interest in any project or program under this section, or any interest accrued on the amount of the grant, as a condition of the debt-for-health-andprotection swap.

(e) AUTHORIZATION OF APPROPRIATIONS.-There are authorized to be appropriated such sums as may be necessary to carry out this section.