22 U.S.C. § 290k–3 — Opposition to certain guarantees or investment promotions; independent evaluation of guaranteed investments

(1) In line with the goals in section 290k–2, the Secretary of the Treasury must instruct the U.S. Director to oppose — and to actively try to get other Board members to also oppose — any guarantee or investment promotion the Agency is considering, if the investment would: (A) go to a country that isn't a "beneficiary developing country" under the Trade Act of 1974 because it hasn't taken steps to give workers internationally recognized rights; (B) be subject to trade-distorting requirements from the host country likely to cause a significant net drop in (i) U.S. employment, or (ii) other trade benefits the U.S. would get from the investment; or (C) likely increase a country's production capacity in an industry that already has too much worldwide capacity, causing real harm to U.S. producers of the same or similar or competing products. (2) Within 12 months after the U.S. becomes an Agency member, and again each year for the next three years, the Secretary must independently evaluate the U.S.-guaranteed investments. The evaluation must figure out (A) the expected overall effect on U.S. jobs and exports, and (B) how many of those investments went to countries that were not affording workers their internationally recognized rights. While doing each evaluation, the Secretary must actively ask for, and take into account, the views of U.S. labor organizations. Once each evaluation is done, the Secretary must send a copy to Congress.