; and (2) notify the petitioner of the determination under paragraph (1) and the reasons for the determination. 5. Market access assessment by United States International Trade Commission (a) In general With respect to any proposed trade agreement in which the President seeks a modification of an existing duty that would reduce or eliminate the bound or applied rate of such duty on any product in order to carry out a trade agreement entered into between the United States and a foreign country, the United States International Trade Commission shall initiate an investigation and report as to the possible market access opportunities of the modification or elimination of foreign tariff and nontariff measures for United States industries producing and exporting similar products. In preparing its report, the International Trade Commission shall identify the tariff and nontariff measures for such products and the expected opportunities for United States exports. (b) Consultation In preparing its report under subsection (a), the United States International Trade Commission shall, as appropriate, seek to obtain relevant information from domestic producers of similar products, industry associations, government representatives, and other interested organizations. (c) Report (1) In general Not later than 240 days after the President notifies Congress of his intent to enter into negotiations for a proposed trade agreement described in subsection (a), or not later than 45 days after the President notifies Congress of his intent to enter into a trade agreement, whichever occurs first, the United States International Trade Commission shall submit to the United States Trade Representative, the Secretary of Commerce, and Congress the report required under subsection (a). (2) Form Such report shall be submitted in unclassified form, but may contain a classified annex, if necessary.