1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web97-662 EUpdated August 14, 1998The OECD Shipbuilding Agreement andLegislation in the 105 Congressth(name redacted)Specialist in International Trade and FinanceEconomics DivisionSummaryIn December
2、 1994, the United States, the European Union, Japan, Korea, andNorway signed an agreement on shipbuilding that was negotiated under the Organizationfor Economic Cooperation and Development (OECD). The agreement prohibits mostsubsidies for shipbuilding, limits financing assistance, allows actions aga
3、inst injuriouspricing, and establishes a dispute resolution process. Although the United States was thelead proponent of the agreement, it is the only signatory that has not ratified theagreement. U.S. maritime industries are split. The largest shipyards oppose theagreement without modifications suc
4、h as a longer phase-out of the U.S. vessel financingguarantee program. Mid-level shipyards and vessel operators support the agreement,primarily for its provision to end most shipbuilding subsidies. Legislation to approve theagreement and make necessary statutory changes has been introduced in the 10
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