By Vicki Needham - 02/29/12 04:45 PM EST
Camp said he expected the legislation to move quickly through Congress to remedy the situation.
The bill has support from the White House, which has argued along with the lawmakers that the measure helps U.S. employers and workers who face unfairly subsidized imports from countries like China.
“This has been a major focus and priority for the Obama administration, which has been working closely with Congress to produce this legislation as quickly as possible," U.S. Trade Representative Ron Kirk said.
The court said Congress would have to act to provide the agency with the ability to maintain those countervailing duties, which aim to offset the benefits of countries that subsidize their exports.
"I commend the Obama administration for the urgency with which it has worked to help reach a resolution to this matter," Levin said. "This legislation, while critically important, simply returns to the administration tools previously available," he said.
"It provides no new tools to stop China from creating unfair advantages for its producers or forcing American companies to move to China in order to do business in that market."
In addition, the legislation brings the United States into compliance with its WTO obligations by addressing potential "double remedies" in situations where countervailing duties are applied to non-market economies exports at the same time that antidumping duties, calculated using the so-called “surrogate value” methodology, are applied to the exports.
If the court decision were allowed to stand, Commerce would probably be forced to terminate the 23 existing countervailing duty orders against products from China and one from Vietnam along with six ongoing investigations against Chinese and Vietnamese products, which could also result in the possible refund of already-collected duties.
"This bill would ensure the 24 existing CVD orders on imports from China and Vietnam remain in place and that ongoing CVD investigations involving imports from these countries can continue," said Commerce Secretary John Bryson.
"If Congress does not take up this bill, the Commerce Department may lose a critical tool to level the playing field for American workers and companies in the future.