Designation of trade deficit economies

(a) In general Not later than 30 days after the date of the enactment of this Act, and on April 1 of each year thereafter, the Trade Representative shall— (1) determine whether the United States has a bilateral deficit in trade in goods with each trading partner of the United States; (2) designate each trading partner with which the United States has such a deficit as a trade deficit economy; and (3) publish in the Federal Register— (A) a list of trade deficit economies; and (B) for each trade deficit economy, the value of the bilateral deficit in trade in goods, rounded to the nearest millionth dollar. (b) Basis for determinations The Trade Representative shall make determinations and designations required by subsection (a) in a year— (1) on the basis of the best available data on bilateral trade in goods published by the Bureau of Economic Analysis of the Department of Commerce or another appropriate agency of the Federal Government; and (2) using the most recent finalized calendar-year data available as of January 31 of that year.