“(a) General Provisions.—“(1) Applicability of subsection.—This subsection applies to additional duties assessed under subsections (b), (c), and (d).
“(2) Applicable ntr (mfn) rate of duty.—For purposes of subsections (b), (c), and (d), the term ‘applicable NTR (MFN) rate of duty’ means, with respect to a safeguard good, a rate of duty that is the lesser of—“(A) the column 1 general rate of duty that would have been imposed under the HTS on the same safeguard good entered, without a claim for preferential treatment, at the time the additional duty is imposed under subsection (b), (c), or (d), as the case may be; or
“(B) the column 1 general rate of duty that would have been imposed under the HTS on the same safeguard good entered, without a claim for preferential treatment, on December 31, 2004.
“(3) Schedule rate of duty.—For purposes of subsections (b) and (c), the term ‘schedule rate of duty’ means, with respect to a safeguard good, the rate of duty for that good set out in the Schedule of the United States to Annex 2–B of the Agreement.
“(4) Safeguard good.—In this subsection, the term ‘safeguard good’ means—“(A) a horticulture safeguard good described [in] subsection (b)(1)(B); or
“(B) a beef safeguard good described in subsection (c)(1) or subsection (d)(1)(A).
“(5) Exceptions.—No additional duty shall be assessed on a good under subsection (b), (c), or (d) if, at the time of entry, the good is subject to import relief under—“(A) subtitle A of title III of this Act; or
“(B) chapter 1 of title II of the Trade Act of 1974 (19 U.S.C. 2251 et seq.).
“(6) Termination.—The assessment of an additional duty on a good under subsection (b) or (c), whichever is applicable, shall cease to apply to that good on the date on which duty-free treatment must be provided to that good under the Schedule of the United States to Annex 2–B of the Agreement.
“(7) Notice.—Not later than 60 days after the date on which the Secretary of the Treasury assesses an additional duty on a good under subsection (b), (c), or (d), the Secretary shall notify the Government of Australia in writing of such action and shall provide to that Government data supporting the assessment of the additional duty.
“(b) Additional Duties on Horticulture Safeguard Goods.—“(1) Definitions.—In this subsection:“(A) F.O.B.—The term ‘F.O.B.’ means free on board, regardless of the mode of transportation, at the point of direct shipment by the seller to the buyer.
“(B) Horticulture safeguard good.—The term ‘horticulture safeguard good’ means a good—“(i) that qualifies as an originating good under section 203;
“(ii) that is included in the United States Horticulture Safeguard List set forth in Annex 3–A of the Agreement; and
“(iii) for which a claim for preferential treatment under the Agreement has been made.
“(C) Unit import price.—The ‘unit import price’ of a good means the price of the good determined on the basis of the F.O.B. import price of the good, expressed in either dollars per kilogram or dollars per liter, whichever unit of measure is indicated for the good in the United States Horticulture Safeguard List set forth in Annex 3–A of the Agreement.
“(D) Trigger price.—The ‘trigger price’ for a good is the trigger price indicated for that good in the United States Horticulture Safeguard List set forth in Annex 3–A of the Agreement or any amendment thereto.
“(2) Additional duties.—In addition to any duty proclaimed under subsection (a) or (b) of section 201, and subject to subsection (a) of this section, the Secretary of the Treasury shall assess a duty on a horticulture safeguard good, in the amount determined under paragraph (3), if the Secretary determines that the unit import price of the good when it enters the United States is less than the trigger price for that good.
“(3) Calculation of additional duty.—The additional duty assessed under this subsection on a horticulture safeguard good shall be an amount determined in accordance with the following table:
“If the excess of the trigger price over the unit import price is:The additional duty is an amount equal to:
Not more than 10 percent of the trigger price0.
More than 10 percent but not more than 40 percent of the trigger price30 percent of the excess of the applicable NTR (MFN) rate of duty over the schedule rate of duty.
More than 40 percent but not more than 60 percent of the trigger price50 percent of such excess.
More than 60 percent but not more than 75 percent of the trigger price70 percent of such excess.
More than 75 percent of the trigger price100 percent of such excess.
“(c) Additional Duties on Beef Safeguard Goods Based on Quantity of Imports.—“(1) Definition.—In this subsection, the term ‘beef safeguard good’ means a good—“(A) that qualifies as an originating good under section 203;
“(B) that is listed in paragraph 3 of Annex I of the General Notes to the Schedule of the United States to Annex 2–B of the Agreement; and
“(C) for which a claim for preferential treatment under the Agreement has been made.
“(2) Additional duties.—In addition to any duty proclaimed under subsection (a) or (b) of section 201, and subject to subsection (a) of this section and paragraphs (4) and (5) of this subsection, the Secretary of the Treasury shall assess a duty, in the amount determined under paragraph (3), on a beef safeguard good imported into the United States in a calendar year if the Secretary determines that, prior to such importation, the total volume of beef safeguard goods imported into the United States in that calendar year is equal to or greater than 110 percent of the volume set out for beef safeguard goods in the corresponding year in the table contained in paragraph 3(a) of Annex I of the General Notes to the Schedule of the United States to Annex 2–B of the Agreement. For purposes of this subsection, the years 1 through 19 set out in the table contained in paragraph 3(a) of such Annex I correspond to the calendar years 2005 through 2023.
“(3) Calculation of additional duty.—The additional duty on a beef safeguard good under this subsection shall be an amount equal to 75 percent of the excess of the applicable NTR (MFN) rate of duty over the schedule rate of duty.
“(4) Waiver.—“(A) In general.—The United States Trade Representative is authorized to waive the application of this subsection, if the Trade Representative determines that extraordinary market conditions demonstrate that the waiver would be in the national interest of the United States, after the requirements of subparagraph (B) are met.
“(B) Notice and consultations.—Promptly after receiving a request for a waiver of this subsection, the Trade Representative shall notify the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate, and may make the determination provided for in subparagraph (A) only after consulting with—“(i) appropriate private sector advisory committees established under section 135 of the Trade Act of 1974 (19 U.S.C. 2155); and
“(ii) the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate regarding— “(I) the reasons supporting the determination to grant the waiver; and
“(II) the proposed scope and duration of the waiver.
“(C) Notification of the secretary of the treasury and publication.—Upon granting a waiver under this paragraph, the Trade Representative shall promptly notify the Secretary of the Treasury of the period in which the waiver will be in effect, and shall publish notice of the waiver in the Federal Register.
“(5) Effective dates.—This subsection takes effect on January 1, 2013, and shall not be effective after December 31, 2022.
“(d) Additional Duties on Beef Safeguard Goods Based on Price.—“(1) Definitions.—In this subsection:“(A) Beef safeguard good.—The term ‘beef safeguard good’ means a good—“(i) that qualifies as an originating good under section 203;
“(ii) that is classified under subheading 0201.10.50, 0201.20.80, 0201.30.80, 0202.10.50, 0202.20.80, or 0202.30.80 of the HTS; and
“(iii) for which a claim for preferential treatment under the Agreement has been made.
“(B) Calendar quarter.—“(i) In general.—The term ‘calendar quarter’ means any 3-month period beginning on January 1, April 1, July 1, or October 1 of a calendar year.
“(ii) First calendar quarter.—The term ‘first calendar quarter’ means the calendar quarter beginning on January 1.
“(iii) Second calendar quarter.—The term ‘second calendar quarter’ means the calendar quarter beginning on April 1.
“(iv) Third calendar quarter.—The term ‘third calendar quarter’ means the calendar quarter beginning on July 1.
“(v) Fourth calendar quarter.—The term ‘fourth calendar quarter’ means the calendar quarter beginning on October 1.
“(C) Monthly average index price.—The term ‘monthly average index price’ means the simple average, as determined by the Secretary of Agriculture, for a calendar month of the daily average index prices for Wholesale Boxed Beef Cut-Out Value Select 1–3 Central U.S. 600–750 lbs., or its equivalent, as such simple average is reported by the Agricultural Marketing Service of the Department of Agriculture in Report LM–XB459 or any equivalent report.
“(D) 24-month trigger price.—The term ‘24-month trigger price’ means, with respect to any calendar month, the average of the monthly average index prices for the 24 preceding calendar months, multiplied by 0.935.
“(2) Additional duties.—In addition to any duty proclaimed under subsection (a) or (b) of section 201, and subject to subsection (a) of this section and paragraphs (4) through (6) of this subsection, the Secretary of the Treasury shall assess a duty, in the amount determined under paragraph (3), on a beef safeguard good imported into the United States if—“(A)(i) the good is imported in the first calendar quarter, second calendar quarter, or third calendar quarter of a calendar year; and
“(ii) the monthly average index price, in any 2 calendar months of the preceding calendar quarter, is less than the 24-month trigger price; or
“(B)(i) the good is imported in the fourth calendar quarter of a calendar year; and
“(ii)(I) the monthly average index price, in any 2 calendar months of the preceding calendar quarter, is less than the 24-month trigger price; or
“(II) the monthly average index price, in any of the 4 calendar months preceding January 1 of the succeeding calendar year, is less than the 24-month trigger price.
“(3) Calculation of additional duty.—The additional duty on a beef safeguard good under this subsection shall be an amount equal to 65 percent of the applicable NTR (MFN) rate of duty for that good.
“(4) Limitation.—An additional duty shall be assessed under this subsection on a beef safeguard good imported into the United States in a calendar year only if, prior to the importation of that good, the total quantity of beef safeguard goods imported into the United States in that calendar year is equal to or greater than the sum of—“(A) the quantity of goods of Australia eligible to enter the United States in that year specified in Additional United States Note 3 to Chapter 2 of the HTS; and
“(B)(i) in 2023, 70,420 metric tons; or
“(ii) in 2024, and in each year thereafter, a quantity that is 0.6 percent greater than the quantity provided for in the preceding year under this subparagraph.
“(5) Waiver.—“(A) In general.—The United States Trade Representative is authorized to waive the application of this subsection, if the Trade Representative determines that extraordinary market conditions demonstrate that the waiver would be in the national interest of the United States, after the requirements of subparagraph (B) are met.
“(B) Notice and consultations.—Promptly after receiving a request for a waiver of this subsection, the Trade Representative shall notify the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate, and may make the determination provided for in subparagraph (A) only after consulting with—“(i) appropriate private sector advisory committees established under section 135 of the Trade Act of 1974 (19 U.S.C. 2155); and
“(ii) the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate regarding— “(I) the reasons supporting the determination to grant the waiver; and
“(II) the proposed scope and duration of the waiver.
“(C) Notification of the secretary of the treasury and publication.—Upon granting a waiver under this paragraph, the Trade Representative shall promptly notify the Secretary of the Treasury of the period in which the waiver will be in effect, and shall publish notice of the waiver in the Federal Register.
“(6) Effective date.—This subsection takes effect on January 1, 2023.