Page:United States Statutes at Large Volume 88 Part 2.djvu/755

 88 STAT. ]

PUBLIC LAW 93-618-JAN. 3, 1975

2071

may be redesignated, subject to the provisions of section 502, a beneficiary developing country with respect to such article if imports of such article from such country did not exceed the limitations in paragraph (1) of this subsection during the preceding calendar year. (d) Subsection (c)(1)(B) does not apply with respect to any eligible article if a like or directly competitive article is not produced on the date of enactment of this Act in the United States. (e) No action pursuant to section 501 may affect any tariff duty. ^"'"•^° ^'^°j imposed by the Legislature of Puerto Kico pursuant to section 319 of'J^ty'^^ the Tariff Act of 1930 (19 U.S.C. sec. 1319) on coffee imported into Puerto Rico. SEC. 505. TIME LIMIT ON TITLE; COMPREHENSIVE REVIEW.

(a) No duty-free treatment under this title shall remain in effect after the date which is 10 years after the date of the enactment of this Act. (b) On or before the date which is 5 years after the date of the enactment of this Act, the President shall submit to the Congress a full and complete report of the operation of this title.

19 USC 2465.

Presidential

report to Congress.

TITLE VI—GENERAL PROVISIONS SEC. 601. DEFINITIONS.

For purposes of this Act— (1) The term "duty" includes the rate and form of any import duty, including but not limited to tariff-rate quotas. (2) The term "other import restriction" includes a limitation, prohibition, charge, and exaction other than duty, imposed on importation or imposed for the regulation of importation. The term does not include any orderly marketing agreement. (3) The term "ad valorem" includes ad valorem equivalent. Whenever any limitation on the amount by which or to which any rate of duty may be decreased or increased pursuant to a trade agreement is expressed in terms of an ad valorem percentage, the ad valorem amount taken into account for purposes of such limitation shall be determined by the President on the basis of the value of imports of the articles concerned during the most recent representative period. (4) The term "ad valorem equivalent" means the ad valorem equivalent of a specific rate or, in the case of a combination of rates including a specific rate, the sum of the ad valorem equivalent of the specific rate and of the ad valorem rate. The ad valorem equivalent shall be determined by the President on the basis of the value of imports of the article concerned during the most recent representative period. I n determining the value of imports, the President shall utilize, to the maximum extent practicable, the standards of valuation contained in section 402 or 402a of the Tariff Act of 1930 (19 U.S.C. sec. 1401a or 1402) applicable to the article concerned during such representative period. (5) An imported article is "directly competitive with" a domestic article at an earlier or later stage of processing, and a domestic article is "directly competitive with" an imported article at an earlier or later stage of processing, if the importation of the article has an economic effect on producers of the domestic article comparable to the effect of importation of articles in the same stage of processing as the domestic article. For purposes of this paragraph, the unprocessed article is at an earlier stage of processing.

19 USC 2481,

�