; and (ii) in subclause (II), by striking $500,000 and inserting 2.5 percent of such applicable amount ; (2) in subsection (d)(4)(B), by adding at the end the following: (iii) Clause (ii)(II) shall not apply with respect to any article if a like or directly competitive article was not produced in the United States in any of the preceding 3 calendar years. . (b) Applicability (1) In general The amendments made by subsection (a) shall take effect on the date of the enactment of this Act. (2) Restoration of duty-free treatment (A) List required Not later than 120 days after the date of the enactment of this Act, the President shall— (i) list each article with respect to which duty-free treatment was eliminated (as of the date of the enactment of this Act) pursuant to subsection (c) of section 503 of the Trade Act of 1974 that is eligible for such treatment pursuant to such section 503 as amended by subsection (a) of this section