; and (II) if no amount attributable to United States cost or value, as authorized by clause (ii) of this subparagraph, would be required to be applied in order to achieve such eligibility. . (b) Report (1) In general Not later than January 1, 2026, the United States Trade Representative shall submit to Congress a report on the impact of the Generalized System of Preferences rule of origin requirements under section 503(a)(2)(A)(ii)(I) of the Trade Act of 1974 ( 19 U.S.C. 2463(a)(2)(A)(ii)(I) ) in fostering regional economic integration through program cumulation among regional associations. (2) Matters to be included The report required under this subsection shall include recommendations regarding— (A) new regional associations eligible for treatment as one country under the provisions of section 507(2) of the Trade Act of 1974 ( 19 U.S.C. 2467(2) ); and (B) updates to the rule of origin methodology under section 503 of such Act that would better maximize content from beneficiary developing countries and the United States. 8. Modifications to competitive need limitation (a) In general Section 503 of the Trade Act of 1974 ( 19 U.S.C. 2463 ) is amended— (1) in subsection (c)(2)— (A) in subparagraph (A)(ii)— (i) in subclause (I), by striking for 1996, $75,000,000 and inserting for calendar year 2023, $500,000,000 ; and (ii) in subclause (II), by striking $5,000,000 and inserting 2.5 percent of such applicable amount ; (B) in subparagraph (C), by striking may, subject and inserting should, subject ; and (C) in subparagraph (F)(ii)— (i) in subclause (I), by striking for calendar year 1996, $13,000,000 and inserting for calendar year 2023, $50,000,000 ; and (ii) in subclause (II), by striking $500,000 and inserting 2.5 percent of such applicable amount