; and (2) by striking clause (ii). XVI Protect American IPR 1601. Short title This title may be cited as the Protect American IPR Act . 1602. Study and report on violations of United States intellectual property rights in China or by Chinese persons (a) Study The United States Trade Representative, in consultation with the United States International Trade Commission, shall conduct an annual study to determine the estimated annual loss of revenue to holders of United States intellectual property rights as a result of direct or indirect violations of such intellectual property rights in the People’s Republic of China or by any Chinese person, including governmental entities of China, in the preceding calendar year. (b) Report Not later than 120 days after the date of the enactment of this Act, and annually thereafter, the United States Trade Representative shall submit to Congress a report that contains the results of the study conducted pursuant to subsection (a) . 1603. Imposition of duties on merchandise from China and distribution of proceeds of such duties to holders of certain United States intellectual property rights Notwithstanding any other provision of law, the President, acting through the United States Trade Representative, shall impose duties on merchandise originating from China in an amount equivalent to— (1) the estimated total loss of revenue to holders of United States intellectual property rights as a result of violations of such intellectual property rights in China during the previous calendar year, as determined by the study conducted pursuant to section 1602(a) , reduced by (2) the total amount of any tariffs collected, pursuant to section 301 of the Trade Act of 1974 ( 19 U.S.C. 2411 ) or any other provision of law authorizing the President to act to safeguard intellectual property rights, with respect to such violations in such previous calendar year. 1604. Compensation for losses borne by holders of United States intellectual property rights (a) Establishment of trust fund There is