Authority to take certain actions relating to reciprocal trade

(a) In general If the President determines that— (1) the rate of duty imposed by Australia with respect to wagyu beef, when imported from the United States, is significantly higher than the rate of duty imposed by the United States on that wagyu beef products, when imported from that country, or (2) the nontariff barriers applied by Australia with respect to a wagyu, when imported from the United States, impose significantly higher burdens, alone or in combination with any tariffs imposed by that country on that good, than the burdens of the nontariff barriers applied by the United States with respect to that wagyu beef product, alone or in combination with any tariffs imposed by the United States on that wagyu beef product, when imported from that country, the President may take one or more of the actions authorized under subsection (b). (b) Actions authorized The actions authorized under this subsection are the following: (1) To negotiate and seek to enter into an agreement with the Australia that commits the country to reduce the rate of duty or reduce or eliminate nontariff barriers on the wagyu beef that is the subject of the determination under subsection (a). (2) To impose a rate of duty on imports of the wagyu beef that is equal to— (A) the rate of duty imposed by the foreign country with respect to the wagyu beef product, in the case of a determination described in subsection (a)(1); or (B) the effective rate of duty of the nontariff barriers applied by Australia with respect to the good, alone or in combination with any tariffs imposed by that country on that wagyu beef product, in the case of a determination described in subsection (a)(2). (c) Factors In taking an action authorized under subsection (b), the President shall consider the following factors: (1) The tariff classification of the wagyu beef products by the United States and the tariff classification of wagyu beef by the Australia. (2) The rate of duty applied by the United States with respect to the wagyu beef product and the rate of duty applied by Australia with respect to the Wagyu beef. (3) The physical characteristics of the wagyu beef. (4) The end uses and existence of a competitive relationship between the wagyu beef import— (A) as exported from the United States to the foreign country; and (B) as imported from the country to the United States. (5) The level of exports of the wagyu by the country to the United States and to Australia. (6) In the case of a determination described in subsection (a)(1), the extent to which the rate of duty applied by Australia with respect to wagyu beef products is impeding or distorting trade. (7) In the case of a determination described in subsection (a)(2)— (A) the extent of the nontariff barriers applied by the Australia with respect to wagyu beef, and the extent of the nontariff barriers applied by the United States with respect to the wagyu beef products; (B) the extent to which the nontariff barriers applied by Australia with respect to the wagyu beef, alone or in combination with any tariffs imposed by that country on that good, are impeding or distorting trade; (C) the identified purpose of the nontariff barriers applied by Australia with respect to the wagyu beef, if any, and the extent to which the nontariff barriers are more restrictive than necessary to meet that purpose; and (D) the degree of transparency of the process by which Australia adopted the nontariff barriers. (8) Other factors, as the President determines appropriate. (d) Role of USTR The United States Trade Representative, in consultation with the Secretary of Treasury, the Secretary of Commerce, and the heads of other relevant Federal agencies, shall advise the President in determining the effective rate of duty imposed by the nontariff barriers applied by Australia with respect to wagyu beef, in the case of a determination described in subsection (a)(2). (e) Lower rate of duty The President may impose a rate of duty on imports of a wagyu beef products from Australia that is lower than the rate of duty described in subsection (b)(2)(A) or lower than the effective rate of duty described in subsection (b)(2)(B), as the case may be, if the President determines that application of such lower rate of duty is necessary and appropriate. (f) Higher rate of duty If the President imposes a rate of duty on imports of wagyu beef products from Australia under subsection (b)(2), and Australia further increases its rate of duty on imports of the wagyu from the United States, the President may further increase the rate of duty on imports of the wagyu beef from Australia to a rate that is equal to the rate of duty applied by that Australia. (g) Termination The President shall terminate the imposition of any increase in the rate of duty on imports of wagyu beef products from a Australia under subsection (b)(2) effective on the date on which the President determines that— (1) Australia is no longer— (A) imposing a rate of duty with respect to the wagyu beef products, as described in subsection (a)(1); or (B) applying nontariff barriers with respect to the wagyu beef products, as described in subsection (a)(2); or (2) continued imposition of the increased rate of duty on imports of the wagyu beef products from the foreign country is not in the economic or public interest of the United States.