“(a) Tariff Modifications Provided for in the Agreement.—“(1) Proclamation authority.—The President may proclaim—“(A) such modifications or continuation of any duty,
“(B) such continuation of duty-free or excise treatment, or
“(C) such additional duties,
as the President determines to be necessary or appropriate to carry out or apply articles 2.3, 2.5, 2.6, 3.3.13, and Annex 2.3 of the Agreement.
“(2) Effect on gsp status.—Notwithstanding section 502(a)(1) of the Trade Act of 1974 (19 U.S.C. 2462(a)(1)), the President shall, on the date on which the Agreement enters into force [Feb. 1, 2009], terminate the designation of Peru as a beneficiary developing country for purposes of title V of the Trade Act of 1974 (19 U.S.C. 2461 et seq.).
“(b) Other Tariff Modifications.—Subject to the consultation and layover provisions of section 104, the President may proclaim—“(1) such modifications or continuation of any duty,
“(2) such modifications as the United States may agree to with Peru regarding the staging of any duty treatment set forth in Annex 2.3 of the Agreement,
“(3) such continuation of duty-free or excise treatment, or
“(4) such additional duties,
as the President determines to be necessary or appropriate to maintain the general level of reciprocal and mutually advantageous concessions with respect to Peru provided for by the Agreement.
“(c) Conversion to Ad Valorem Rates.—For purposes of subsections (a) and (b), with respect to any good for which the base rate in the Schedule of the United States to Annex 2.3 of the Agreement is a specific or compound rate of duty, the President may substitute for the base rate an ad valorem rate that the President determines to be equivalent to the base rate.
“(d) Tariff Rate Quotas.—In implementing the tariff rate quotas set forth in Appendix I to the Schedule of the United States to Annex 2.3 of the Agreement, the President shall take such action as may be necessary to ensure that imports of agricultural goods do not disrupt the orderly marketing of commodities in the United States.
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