Trade Law Reform Act of 2006

[AI summary unavailable — showing source text] Trade Law Reform Act of 2006 - Amends the Tariff Act of 1930 to revise various specified factors that the International Trade Commission (ITC) must consider in making material injury determinations in countervailing duty and antidumping duty proceedings. Repeals the one-year monitoring program for cases involving persistent dumping. Requires initiation of an expedited antidumping duty investigation in such cases. Suspends for three years the requirement that the administering authority direct the Customs Service to allow, at the importer's option, the posting of a bond or security in lieu of a cash deposit, until completion of an antidumping or countervailing duty review, for each entry of the subject merchandise (bonding privileges). Modifies certain factors used to value freight for imputs in nonmarket economy country antidumping calculations. Requires enactment of a joint resolution by Congress before revocation of a foreign country as a nonmarket economy country. (Currently the administering authority has power to make such a revocation without prior congressional approval.) Amends the Trade Act of 1974 to change the standard for determining if an imported product is harming do…