Page:United States Statutes at Large Volume 117.djvu/977

 117 STAT. 958

in the manner described in paragraph (2) as fabric or yarn not available in commercial quantities in a timely manner in the United States. (2) DESIGNATION OF CERTAIN FABRIC AND YARN.—The designation referred to in paragraph (1) means a designation made in a notice published in the Federal Register on or before November 15, 2002, identifying apparel goods made from fabric or yarn eligible for entry into the United States under subheading 9819.11.24 or 9820.11.27 of the HTS. For purposes of this subsection, a reference in the notice to fabric or yarn formed in the United States is deemed to include fabric or yarn formed in Singapore. (m) APPLICATION AND INTERPRETATION.—In this section: (1) The basis for any tariff classification is the HTS. (2) 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 Singapore or the United States). (n) DEFINITIONS.—In this section: (1) ADJUSTED VALUE.—The term ‘‘adjusted value’’ means the value of a good determined under articles 1 through 8, article 15, and the corresponding interpretative notes of the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 referred to in section 101(d)(8) of the Uruguay Round Agreements Act, except that such value may be adjusted to exclude any costs, charges, or expenses incurred for transportation, insurance, and related services incident to the international shipment of the good from the country of exportation to the place of importation. (2) FUNGIBLE GOODS AND FUNGIBLE MATERIALS.—The terms ‘‘fungible goods’’ and ‘‘fungible materials’’ mean goods or materials, as the case may be, that are interchangeable for commercial purposes and the properties of which are essentially identical. (3) GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.—The term ‘‘generally accepted accounting principles’’ means the recognized consensus or substantial authoritative support in the territory of Singapore or the United States, as the case may be, with respect to the recording of revenues, expenses, costs, and assets and liabilities, the disclosure of information, and the preparation of financial statements. The standards may encompass broad guidelines of general application as well as detailed standards, practices, and procedures. (4) GOODS WHOLLY OBTAINED OR PRODUCED ENTIRELY IN THE TERRITORY OF SINGAPORE, THE UNITED STATES, OR BOTH.— The term ‘‘goods wholly obtained or produced entirely in the territory of Singapore, the United States, or both’’ means— (A) mineral goods extracted in the territory of Singapore, the United States, or both; (B) vegetable goods, as such goods are defined in the Harmonized System, harvested in the territory of Singapore, the United States, or both; (C) live animals born and raised in the territory of Singapore, the United States, or both;

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