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 
(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