Proclamation 5736 -- To Establish a Special Limited Global Import Quota for Upland Cotton

 

November 5, 1987

 

By the President of the United States of America

 

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 United States is hereby modified by inserting in numerical sequence the following temporary

 

(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 United States shall expire on February 28, 1988.

 

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 Independence of the United States of America the two hundred and twelfth.

 

Ronald Reagan

 

[Filed with the Office of the Federal Register, 10:25 a.m., November 6, 1987]