Article 2
Elimination of American Selling Price system (a) Explanation [1] This Article provides for the elimination of the American Selling Price system of valuation (see Sections 402 (e) and 402a (g) of the Tariff Act of 1930 (19 U.S.C. (1964), 140 la (e) and 1402 (g)) as the basis for determining dutiable value in the case of certain chemicals, provided for in Schedule XX (United States), Part I, annexed to the Protocol (hereinafter referred to as Schedule XX), Section 4, Chapter 1. This is accomplished by the deletion of Notes 4 and 5 from Chapter 1, which provide for use of the American Selling Price system for such articles. In addition, a new Note 4 is inserted providing for use of normal methods of valuation therefor (Section 402 (a) through (d) of the Tariff Act of 1930 (19 U.S.C. (1964) 140 la (a) through (d)). (b) Amendments Upon the entry into force of this Agreement, Schedule XX, Section 4, Chapter 1, shall be amended by striking out Notes 4 and 5 thereto, and by inserting in lieu thereof: "4. The ad valorem rates provided for in this Chapter shall be based upon the methods of valuation provided for in Section 402(a) through (d) of the Tariff Act of 1930 (19 U.S.C. (1964) 140 la (a) through (d))."