| 0 |
WSJ891102-0167
= 891102
891102-0167.
Duty-Free Status Cleared
@ For Certain Watch Imports
11/02/89t36
WALL STREET JOURNAL (J)
MONETARY NEWS, FOREIGN EXCHANGE, TRADE (MON)
EXECUTIVE (EXE)
WASHINGTON
| 1 |
The
White House
saide1
President Bush
has
approvede2
duty-free
treatmente25
for imports of certain types of watches that are n't
producede3
in "significant quantities" in the
U.S.
, the
Virgin Islands
and other
U.S.
possessions.
| 2 |
The
actione26
camee5
in response to a petition
filede6
by
Timex Inc.
for changes in the
U.S. Generalized System
of Preferences for imports from developing nations.
| 3 |
Previouslys28
, watch imports were
deniede10
such duty-free
treatmente29
.
| 4 |
Timex
had
requestede11
duty-free treatment for many types of watches, covered by
58
different
U.S.
tariff classifications.
| 5 |
The
White House
saide13
Mr. Bush
decidede14
to
grante15
duty-free status for
18
categories, but
turnede16
down such
treatmente31
for other types of watches "because of the potential for material injury to watch producers located in the
U.S.
and the
Virgin Islands
."
| 6 |
Timex
is a major
U.S.
producere32
and
sellere33
of watches, including low-priced battery-operated watches assembled in the
Philippines
and other developing nations covered by the
U.S.
tariff preferences.
| 7 |
U.S. trade officials
saide22
the
Philippines
and
Thailand
would be the main
beneficiariese123
of the president's
actione34
.
| 8 |
Imports of the types of watches that
nowt38
will be
eligiblee39
for duty-free treatment
totalede23
about
$37.3 million
in
1988t37
, a relatively small share of the
$1.5 billion
in
U.S.
watch imports that year,
accordinge40
to an aide to
U.S. Trade
Representative Carla Hills
.
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