118 STAT. 928 PUBLIC LAW 108–286—AUG. 3, 2004 (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 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. (6) EFFECTIVE DATE.—This subsection takes effect on January 1, 2023. SEC. 203. RULES OF ORIGIN. (a) APPLICATION AND INTERPRETATION.—In this section: (1) TARIFF CLASSIFICATION.—The basis for any tariff classi fication is the HTS. (2) REFERENCE TO HTS.—Whenever in this section there is a reference to a heading or subheading, such reference shall be a reference to a heading or subheading of the HTS. (3) COST OR VALUE.—Any cost or value referred to in this section shall be recorded and maintained in accordance with the generally accepted accounting principles applicable in the territory of the country in which the good is produced (whether Australia or the United States). (b) ORIGINATING GOODS.—For purposes of this Act and for purposes of implementing the preferential treatment provided for under the Agreement, a good is an originating good if— (1) the good is a good wholly obtained or produced entirely in the territory of Australia, the United States, or both; (2) the good— (A) is produced entirely in the territory of Australia, the United States, or both, and— 19 USC 3805 note. Federal Register, publication.
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