Monetization of the wool tariff rate quota.

CFR · 2024-01-01 · US · Title 7

(a) (1) (2) (3) (i) Imported by an eligible person in the U.S.; and (ii) Used by the eligible person in the U.S. (A) In the case of wool fabric of the kind described in subheading 9902.51.11 or 9902.51.15 of the HTS, the qualifying fabric shall be used to produce worsted wool suits, suit-type jackets, or trousers for men and boys; or (B) In the case of wool fabric of the kind described in subheading 9902.51.16 of the HTS, the qualifying fabric shall be used in manufacturing. (4) (i) An assignment of the claim; (ii) An assignment of the original eligible person's right to manufacture under the same trade name; or (iii) A reorganization of the eligible person. (b) (1) Compensation for termination of the TRQ for qualifying worsted wool fabric; and (2) A payment that is equivalent to the amount the eligible person would have saved during the calendar year immediately preceding the payment for imports of qualifying worsted wool fabric if the lower duty rate under the applicable 2014 HTS subheading(s) of a qualifying worsted wool fabric were in effect. (c) (1) Establishing the reported dollar value of imported worsted wool fabric, for each of the 2014 HTS subheadings of worsted wool fabric, during the calendar year immediately preceding the payment; (2) Subtracting the duty rate (converted to numeric value) for each applicable 2014 HTS subheading of worsted wool fabric that would have been paid in calendar year 2014 from the duty rate (converted to numeric value) that was actually

official document · source cfr-2024 · id 7:§ 1471.13