12 U.S.C. § 635p — Presidential mandate to negotiate; objectives

The President must vigorously pursue negotiations to limit and set rules for using tied aid for exports. The United States’ negotiating objectives should include agreements— (1) defining the different forms of tied-aid credit^*, especially mixed credits under the Arrangement on Guidelines for Officially Supported Export Credits established through the Organization for Economic Cooperation and Development, called the “Arrangement” in this subchapter; (2) ending the use of government-mixed credits^* by a specified date; (3) setting rules for public-private cofinancing^* and other mixed financing that may have the same effect as government-mixed credits by using concessional development assistance to create subsidized export financing; (4) raising to 50 percent of concessionality the threshold for notifying others that tied-aid credit will be used; (5) improving notification procedures so advance notice must be given for every use of tied-aid credit; and (6) prohibiting tied-aid credit for production facilities for goods that have a structural oversupply in the world.