118 STAT. 926 PUBLIC LAW 108–286—AUG. 3, 2004 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 Representa tive is authorized to waive the application of this sub section, 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 Com mittee on Finance of the Senate, and may make the deter mination provided for in subparagraph (A) only after con sulting 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 sec tion 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 cal endar quarter’’ means the calendar quarter beginning on January 1. Termination date. Federal Register, publication.
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