means the calendar quarter beginning on
April 1.
(iv) THIRD
CALENDAR
QUARTER.—
The term ‘‘third calendar quarter’’ means
the calendar quarter beginning on July 1.
(v) FOURTH CALENDAR QUARTER.—
The term ‘‘fourth calendar quarter’’ means
the calendar quarter beginning on October
1.
(C) MONTHLY AVERAGE INDEX PRICE.—
The term ‘‘monthly average index price’’ means
the simple average, as determined by the Sec-
retary of Agriculture, for a calendar month of
the daily average index prices for Wholesale
Boxed Beef Cut-Out Value Select 1–3 Central
U.S. 600–750 lbs., or its equivalent, as such
simple average is reported by the Agricultural
Marketing Service of the Department of Agri-
culture in Report LM–XB459 or any equivalent
report.
(D) 24-MONTH TRIGGER PRICE.—The term
‘‘24-month trigger price’’ means, with respect
to any calendar month, the average of the
monthly average index prices for the 24 pre-
ceding calendar months, multiplied by 0.935.
(2) ADDITIONAL DUTIES.—In addition to any
duty proclaimed under subsection (a) or (b) of sec-
tion 201, and subject to subsection (a) of this sec-
tion and paragraphs (4) through (6) of this sub-
section, the Secretary of the Treasury shall assess a
duty, in the amount determined under paragraph
(3), on a beef safeguard good imported into the
United States if—
(A)(i) the good is imported in the first cal-
endar quarter, second calendar quarter, or third
calendar quarter of a calendar year; and
(ii) the monthly average index price, in any
2 calendar months of the preceding calendar
quarter, is less than the 24-month trigger price;
or
(B)(i) the good is imported in the fourth
calendar quarter of a calendar year; and
(ii)(I) the monthly average index price, in
any 2 calendar months of the preceding cal-
endar quarter, is less than the 24-month trigger
price; or
(II) the monthly average index price, in
any of the 4 calendar months preceding Janu-
ary 1 of the succeeding calendar year, is less
than the 24-month trigger price.
(3) CALCULATION OF ADDITIONAL DUTY.—The
additional duty on a beef safeguard good under this
subsection shall be an amount equal to 65 percent
of the applicable NTR (MFN) rate of duty for that
good.
(4) LIMITATION.—An additional duty shall be
assessed under this subsection on a beef safeguard
good imported into the United States in a calendar
year only if, prior to the importation of that good,
the total quantity of beef safeguard goods imported
into the United States in that calendar year is equal
to or greater than the sum of—
(A) the quantity of goods of Australia eli-
gible to enter the United States in that year
specified in Additional United States Note 3 to
Chapter 2 of the HTS; and
(B)(i) in 2023, 70,420 metric tons; or
(ii) in 2024, and in each year thereafter,
a quantity that is 0.6 percent greater than the
quantity provided for in the preceding year
under this subparagraph.
(5) WAIVER.—
(A) IN
GENERAL.—The United States
Trade Representative is authorized to waive the
application of this subsection, if the Trade Rep-
resentative determines that extraordinary mar-
ket conditions demonstrate that the waiver
would be in the national interest of the United
States, after the requirements of subparagraph
(B) are met.
(B) 
NOTICE
AND
CONSULTATIONS.—
Promptly after receiving a request for a waiver
of this subsection, the Trade Representative
shall notify the Committee on Ways and Means
of the House of Representatives and the Com-
mittee on Finance of the Senate, and may make
the determination provided for in subparagraph
(A) only after consulting with—
(i) appropriate private sector advisory
committees established under section 135
of the Trade Act of 1974 (19 U.S.C.
2155); and
(ii) the Committee on Ways and
Means of the House of Representatives
and the Committee on Finance of the Sen-
ate regarding—
(I) the reasons supporting the
determination to grant the waiver;
and