Under the pending agreement, China must agree to prevent unfairly low prices for the launching services.
Washington accused Japan of selling semiconductor chips at unfairly low prices.
It contends that Japanese companies appear to be selling those products at unfairly low prices.
Japanese companies have often been accused of selling their products at unfairly low prices in other countries, a practice known as dumping.
China is also accused of "dumping" certain products, at unfairly low prices, in the United States market.
The department imposed the tax 14 months ago after concluding that Japanese companies were selling the displays at unfairly low prices.
The $60 million payment is intended as compensation for the payments under the old agreement, which both sides conceded were unfairly low.
The American group charged that Japanese manufacturers were selling the panels here at unfairly low prices.
Those amounts seem unfairly low for legal work of great national importance.
The officials said it was being "dumped" at an unfairly low price on the American market.