Foreign Trade Amendments Act

[AI summary unavailable — showing source text] Foreign Trade Amendments Act - Title I: Tax Law Amendments - Provides that, if a foreign corporation is a controlled foreign corporation, a United States shareholder of such corporation shall include in his gross income under the Internal Revenue Code of 1954 his pro rata share of the corporation's earnings and profits for the taxable year. Sets forth the manner in which the pro rata share is to be determined. Sets forth the manner in which the earnings and profits shall be determined. Defines the terms used in this title. Provides rules for determining stock ownership for purposes of this title. Title II: Antidumping Act, Countervailing Duty Law, and Tariff Schedules Amendments and Other Provisions - Provides that under the Antidumping Act of 1921 whenever a class or kind of foreign merchandise is sold in the United States or elsewhere at less than its fair value and an industry in the United States is being or is likely to be injured, or is prevented from being established, by reason of the importation of such merchandise into the United States, there shall be levied upon the merchandise a special dumping duty in an amount equal to the difference between the purchase price or the…