After receiving an affirmative finding of the United States International Trade Commission under section
1901
(b) of this title with respect to an industry, the President may, in lieu of exercising the authority contained in section
1981
(a)(1) of this title but subject to the provisions of sections
1981
(a)(2), (3), and (4) of this title, negotiate international agreements with foreign countries limiting the export from such countries and the import into the United States of the article causing or threatening to cause serious injury to such industry, whenever he determines that such action would be more appropriate to prevent or remedy serious injury to such industry than action under section
1981
(a)(1) of this title.