; and (C) describe the procedures to be applied by U.S. Customs and Border Protection relating to the declaration and entry of covered goods into the customs territory of the United States. (2) Revisions Not less frequently than once every 3 years, the President, with the advice of the Council, shall publish in the Federal Register revised incremental cost calculations for the United States and foreign countries, to be determined in accordance with paragraph (1)(A)(ii)(I), as necessary to account for any modifications during the preceding 3 calendar years to applicable climate- and energy-related laws (including regulations). (c) Imposition of climate duty on imported covered goods (1) In general The owner or operator of an entity that imports a covered good shall pay to the Commissioner of U.S. Customs and Border Protection the climate duty required under subsection (b) with respect to the applicable eligible industrial sector. (2) Waivers (A) Petition The owner or operator of an entity that imports a covered good may submit to the President a petition for a waiver of the climate duty required for the covered good under this subsection. (B) Approval The President shall provide to an owner or operator the waiver requested in a petition submitted under subparagraph (A), if the owner or operator demonstrates to the satisfaction of the President that the covered good imported by the owner or operator has an energy intensity or trade intensity, as calculated in accordance with paragraph (5) or (8), respectively, of section 601(b), equal to less than the energy intensity or trade intensity calculated for the overall eligible industrial sector in which the covered good is classified. (3) Limitations (A) Maximum amount A climate duty imposed on the importation of a covered good pursuant to this subsection shall not exceed an amount equal to the incremental cost of domestic production of the covered good, as determined in accordance with subsection (b)(1)(A)(ii)(I). (B) Exempted foreign countries A product that