Page:United States Statutes at Large Volume 121.djvu/1482

 PUBLIC LAW 110–138—DEC. 14, 2007

121 STAT. 1461

130 percent of the volume that is provided for that safeguard good in the corresponding year in the applicable table contained in Appendix I of the General Notes to the Schedule of the United States to Annex 2.3 of the Agreement. For purposes of this subsection, year 1 in that table corresponds to the calendar year in which the Agreement enters into force. (2) CALCULATION OF ADDITIONAL DUTY.—The additional duty on a safeguard good under this subsection shall be— (A) in years 1 through 12, an amount equal to 100 percent of the excess of the applicable NTR (MFN) rate of duty over the schedule rate of duty; and (B) in years 13 through 16, an amount equal to 50 percent of the excess of the applicable NTR (MFN) rate of duty over the schedule rate of duty. (3) NOTICE.—Not later than 60 days after the Secretary of the Treasury first assesses an additional duty in a calendar year on a good under this subsection, the Secretary shall notify the Government of Peru in writing of such action and shall provide to that Government data supporting the assessment of the additional duty. (c) EXCEPTIONS.—No additional duty shall be assessed on a good under subsection (b) if, at the time of entry, the good is subject to import relief under— (1) subtitle A of title III of this Act; or (2) chapter 1 of title II of the Trade Act of 1974 (19 U.S.C. 2251 et seq.). (d) TERMINATION.—The assessment of an additional duty on a good under subsection (b) 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 2.3 of the Agreement.

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SEC. 203. RULES OF ORIGIN.

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(a) APPLICATION AND INTERPRETATION.—In this section: (1) TARIFF CLASSIFICATION.—The basis for any tariff classification is the HTS. (2) REFERENCE TO HTS.—Whenever in this section there is a reference to a chapter, heading, or subheading, such reference shall be a reference to a chapter, 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 Peru or the United States). (b) ORIGINATING GOODS.—For purposes of this Act and for purposes of implementing the preferential tariff treatment provided for under the Agreement, except as otherwise provided in this section, a good is an originating good if— (1) the good is a good wholly obtained or produced entirely in the territory of Peru, the United States, or both; (2) the good— (A) is produced entirely in the territory of Peru, the United States, or both, and— (i) each of the nonoriginating materials used in the production of the good undergoes an applicable

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