Page:United States Statutes at Large Volume 116 Part 1.djvu/189

 PUBLIC LAW 107-171—MAY 13, 2002 116 STAT. 163 (5) PREFERENTIAL TARIFF TREATMENT. —The quantity under a special import quota shall be considered to be an in-quota quantity for purposes of— (A) section 213(d) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703(d)); (B) section 204 of the Andean Trade Preference Act (19 U.S.C. 3203); (C) section 503(d) of the Trade Act of 1974 (19 U.S.C. 2463(d)); and (D) General Note 3(a)(iv) to the Harmonized Tariff Schedule. (6) DEFINITION.— In this subsection, the term "special import quota" means a quantity of imports that is not subject to the over-quota tariff rate of a tariff-rate quota. (7) LIMITATION.— The quantity of cotton entered into the United States during any marketing year under the special import quota established under this subsection may not exceed the equivalent of 5 week's consumption of upland cotton by domestic mills at the seasonally adjusted average rate of the 3 months immediately preceding the first special import quota established in any marketing year. (c) LIMITED GLOBAL IMPORT QUOTA FOR UPLAND COTTON.— (1) IN GENERAL.— The President shall carry out an import quota program that provides that whenever the Secretary determines and announces that the average price of the base quality of upland cotton, as determined by the Secretary, in the designated spot markets for a month exceeded 130 percent of the average price of such quality of cotton in the markets for the preceding 36 months, notwithstanding any other provision of law, there shall immediately be in effect a limited global import quota subject to the following conditions: (A) QUANTITY.— The quantity of the quota shall be equal to 21 days of domestic mill consumption of upland cotton at the seasonally adjusted average rate of the most recent 3 months for which data are available. (B) QUANTITY IF PRIOR QUOTA.— I f a quota has been established under this subsection during the preceding 12 months, the quantity of the quota next established under this subsection shall be the smaller of 21 days of domestic mill consumption calculated under subparagraph (A) or the quantity required to increase the supply to 130 percent of the demand. (C) PREFERENTIAL TARIFF TREATMENT. —The quantity under a limited global import quota shall be considered to be an in-quota quantity for purposes of— (i) section 213(d) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703(d)); (ii) section 204 of the Andean Trade Preference Act (19 U.S.C. 3203); (iii) section 503(d) of the Trade Act of 1974 (19 U.S.C. 2463(d)); and (iv) General Note 3(a)(iv) to the Harmonized Tariff Schedule. (D) DEFINITIONS. —In this subsection: (i) SUPPLY. —The term "supply" means, using the latest official data of the Bureau of the Census, the

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