19 U.S. Code § 3358 - Price-based snapback for frozen concentrated orange juice
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(a) Trigger price determination
(1) In general
The Secretary shall determine—
(A) each period of 5 consecutive business days in which the daily price for frozen concentrated orange juice is less than the trigger price; and
(b) Imports of Mexican articles
Whenever after any determination date for a determination under subsection (a)(1)(A) of this section, the quantity of Mexican articles of frozen concentrated orange juice that is entered exceeds—
the rate of duty on Mexican articles of frozen concentrated orange juice that are entered after the date on which the applicable limitation in paragraph (1) or (2) is reached and before the determination date for the related determination under subsection (a)(1)(B) of this section shall be the rate of duty specified in subsection (c) of this section.
(c) Rate of duty
The rate of duty specified for purposes of subsection (b) of this section for articles entered on any day is the rate in the HTS that is the lower of—
For purposes of this section—
(1) The term “daily price” means the daily closing price of the New York Cotton Exchange, or any successor as determined by the Secretary, for the closest month in which contracts for frozen concentrated orange juice are being traded on the Exchange.
(2) The term “business day” means a day in which contracts for frozen concentrated orange juice are being traded on the New York Cotton Exchange, or any successor as determined by the Secretary.
(3) The term “entered” means entered or withdrawn from warehouse for consumption, in the customs territory of the United States.
(4) The term “frozen concentrated orange juice” means all products classifiable under subheading 2009.11.00 of the HTS.
(6) The term “trigger price” means the average daily closing price of the New York Cotton Exchange, or any successor as determined by the Secretary, for the corresponding month during the previous 5-year period, excluding the year with the highest average price for the corresponding month and the year with the lowest average price for the corresponding month.
Source(Pub. L. 103–182, title III, § 309,Dec. 8, 1993, 107 Stat. 2105; Pub. L. 104–295, § 21(b)(4),Oct. 11, 1996, 110 Stat. 3530.)
1996—Subsec. (c)(1), (2). Pub. L. 104–295substituted “column 1 general” for “column 1–General”.
Transfer of Functions
For transfer of functions, personnel, assets, and liabilities of the United States Customs Service of the Department of the Treasury, including functions of the Secretary of the Treasury relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see sections 203 (1), 551 (d), 552 (d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6.