Proclamation 5736 -- To
Establish a Special Limited Global Import Quota for Upland Cotton
By
the President of the
A
Proclamation
1.
Section 103A(o)(1) of the Agricultural Act of 1949, as added by section 501 of
the Food Security Act of 1985 (7 U.S.C. 1444 - 1(o)(1)), provides that whenever
the Secretary of Agriculture determines that the average price of Strict Low
Middling one and one-sixteenth inch cotton (micronaire
3.5 through 4.9), hereinafter referred to as ``Strict Low Middling cotton,'' in
the designated spot markets for a month exceeded 130 percent of the average
price of such quality of cotton in such markets for the preceding 36 months,
notwithstanding any other provision of law, the President shall immediately
establish and proclaim a special limited global import quota for upland cotton.
The amount of such quota, if no special quota has been established under that
section during the previous 12 months, is to be equal to 21 days of domestic
mill consumption of upland cotton at the seasonally adjusted average rate of
the most recent 3 months for which data are available and is to remain in
effect for a 90-day period.
2.
The Secretary of Agriculture has informed me that he has determined that the
average price of Strict Low Middling cotton in the designated spot markets for
the month of August 1987 has exceeded 130 percent of the average price of such
cotton in such markets for the preceding 36 months. The Secretary's
determination was based upon the following data:
(a)
The average price of Strict Low Middling cotton in the designated spot markets
for the month of August 1987 was 75.89 cents per pound.
(b)
The average price of Strict Low Middling cotton in the designated spot markets for
the 36 months preceding the month of August 1987 was
57.89 cents per pound.
3.
Twenty-one days of domestic mill consumption of upland cotton, which is any
variety of the Gossypium hirsutum
species of cotton, at the seasonally adjusted rate of the most recent 3 months
for which data are available is 303,894,717 pounds.
Now,
Therefore, I, Ronald Reagan, President of the United States of America, by the
authority vested in me by the Constitution and statutes of the United States of
America, including section 103A(o)(1) of the
Agricultural Act of 1949, as added by section 501 of the Food Security Act of
1985, and in order to establish a special 90-day limited global import quota
for 303,894,717 pounds of upland cotton, do hereby proclaim as follows:
Part
3 of the Appendix to the Tariff Schedules of the
(TABLE
START) provision:
@h1``Item
@h1Article
@h1Quota
quantity (in pounds)
955.07 .... Notwithstanding any other quantitative
limitations on the importation of cotton, upland cotton, if accompanied by an
original certificate of an official of a government agency of the country in
which the cotton was produced attesting to the fact that cotton is a variety of
Gossypium hirsutum species
of cotton, may be entered during the 90-day period November 6, 1987, through
February 3, 1988 .... 303,894,717
pounds.''
(TABLE
END)
The
provisions of this Proclamation shall become effective on the day following the
date of signature. The amendment made by this Proclamation to the Tariff
Schedules of the
In
Witness Whereof, I have hereunto set my hand this 5th day of November, in the
year of our Lord nineteen hundred and eighty-seven, and of the
Ronald
Reagan
[Filed with the Office
of the Federal Register,