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 
(II) the proposed scope and dura-
tion of the waiver.
(C) NOTIFICATION
OF
THE
SEC-
RETARY OF THE TREASURY AND PUBLICA-
TION.—Upon granting a waiver under this 
paragraph, the Trade Representative shall 
promptly notify the Secretary of the Treas-
ury of the period in which the waiver will 
be in effect, and shall publish notice of the 
waiver in the Federal Register. 
(6) EFFECTIVE DATE.—This subsection takes 
effect on January 1, 2023. 
SEC. 203. RULES OF ORIGIN. 
(a) APPLICATION
AND INTERPRETATION.—In this 
section: 
(1) TARIFF
CLASSIFICATION.—The basis for 
any tariff classification is the HTS. 
(2) REFERENCE
TO
HTS.—Whenever in this 
section there is a reference to a heading or sub-
heading, such reference shall be a reference to a 
heading or subheading of the HTS. 
(3) COST OR VALUE.—Any cost or value re-
ferred to in this section shall be recorded and main-
tained in accordance with the generally accepted ac-
counting principles applicable in the territory of the 
country in which the good is produced (whether Aus-
tralia or the United States).
(b) ORIGINATING GOODS.—For purposes of this Act 
and for purposes of implementing the preferential treat-
ment provided for under the Agreement, a good is an orig-
inating good if— 
(1) the good is a good wholly obtained or pro-
duced entirely in the territory of Australia, the 
United States, or both; 
(2) the good— 
(A) is produced entirely in the territory of 
Australia, the United States, or both, and— 
(i) each of the nonoriginating mate-
rials used in the production of the good 
undergoes an applicable change in tariff 
classification specified in Annex 4–A or 
Annex 5–A of the Agreement; 
(ii) the good otherwise satisfies any 
applicable regional value-content require-
ment referred to in Annex 5–A of the 
Agreement; or 
(iii) the good meets any other require-
ments specified in Annex 4–A or Annex 5– 
A of the Agreement; and 
(B) the good satisfies all other applicable 
requirements of this section;
(3) the good is produced entirely in the terri-
tory of Australia, the United States, or both, exclu-
sively from materials described in paragraph (1) or 
(2); or 
(4) the good otherwise qualifies as an origi-
nating good under this section. 
(c) DE MINIMIS AMOUNTS OF NONORIGINATING MA-
TERIALS.— 
(1) IN GENERAL.—Except as provided in para-
graphs (2) and (3), a good that does not undergo a 
change in tariff classification pursuant to Annex 5– 
A of the Agreement is an originating good if— 
(A) the value of all nonoriginating mate-
rials that— 
(i) are used in the production of the 
good, and 
(ii) do not undergo the required 
change in tariff classification, 
does not exceed 10 percent of the adjusted 
value of the good; 
(B) the good meets all other applicable re-
quirements of this section; and 
(C) the value of such nonoriginating mate-
rials is included in the value of nonoriginating