Definitions

In this Act: (1) Commission The term Commission means the Federal Trade Commission. (2) Component The term component means a good that is offered for sale to consumers through incorporation into a final good. (3) Final good The term final good means a good that does not require any further assembly to be ready for sale to consumers. (4) Good The term good means any good offered for sale in commerce. (5) Planned tariff The term planned tariff means a tariff, including a tariff rate change, that is intended to be imposed, as demonstrated by a written or spoken statement by the President, the United States Trade Representative, the Secretary of Commerce, or another senior Federal official determined appropriate by the Commission, including by means of a press release, a comment at a press conference, meeting, or public event, or any other public communication. (6) State The term State means each of the several States, the District of Columbia, each commonwealth, territory, or possession of the United States, and each federally recognized Indian Tribe. (7) Tariffed good The term tariffed good means the following: (A) A final good that is subject to a tariff, including a tariff rate change, that entered into force on or after January 20, 2025. (B) A good that is assembled, in whole or in part, in the United States and that has a component that is subject to a tariff, including a tariff rate change, that entered into force on or after January 20, 2025. (C) A component that is subject to a tariff, including a tariff rate change, that entered into force on or after January 20, 2025. (D) A final good, a good assembled in the United States, or a component with respect to which there is a planned tariff. (8) Tariff-related shock date The term tariff-related shock date means any date with respect to which— (A) tariffs or planned tariffs, including tariff rate changes, with respect to at least 5 tariff lines entered into force or were demonstrated by a written or spoken statement, as the case may be, during the 30-day period preceding such date (without regard to the number of trading partners involved); or (B) a tariff rate change, including a planned tariff to the extent such planned tariff relates to a tariff rate change, that increases by more than 25 percentage points an existing tariff rate entered into force or was demonstrated by a written or spoken statement, as the case may be, during the 30-day period preceding such date. (9) Ultimate parent entity The term ultimate parent entity has the meaning given such term in section 801.1 of title 16, Code of Federal Regulations (or any successor regulation).