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) Covered duty The term covered duty means a duty imposed under the authority provided by section 122 of the Trade Act of 1974 (19 U.S.C. 2132). (4) Covered good The term covered good means the following: (A) A final good or a component that is subject to a covered duty imposed on or after January 20, 2026. (B) A good that is assembled, in whole or in part, in the United States and that includes a component described in subparagraph (A). (C) A final good or a component with respect to which there is a planned duty. (D) A good that is assembled, in whole or in part, in the United States and that includes a component described in subparagraph (C). (5) Duty-related shock date (A) In general The term duty-related shock date means any date if, during the 30-day period preceding that date— (i) covered duties with respect to goods classifiable under 5 or more subheadings of the Harmonized Tariff Schedule of the United States took effect; or (ii) planned duties with respect to goods classifiable under 5 or more such subheadings were demonstrated by a written or spoken statement. (B) Consideration of number of trading partners Subparagraph (A) applies without regard to the number of trading partners to which a covered duty or planned duty is applicable. (6) Final good The term final good means a good that does not require any further assembly to be ready for sale to consumers. (7) Good The term good means any good offered for sale in commerce. (8) Planned duty The term planned duty means a covered duty that is intended to be imposed or increased, 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. (9) Small business concern The term small business concern has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632). (10) 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. (11) 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).