WSJ891102-0167
WSJ891102-0167
=
891102
=
891102
891102-0167
.
891102-0167
.
Duty-Free
Status
Cleared
@
For
Certain
Watch
Imports
Duty-Free
Status
Cleared
@
For
Certain
Watch
Imports
11/02/89
11/02/89
11/02/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
MONETARY
NEWS
,
FOREIGN
EXCHANGE
,
TRADE
(
MON
)
MONETARY
NEWS
,
FOREIGN
EXCHANGE
,
TRADE
(
MON
)
EXECUTIVE
(
EXE
)
EXECUTIVE
(
EXE
)
WASHINGTON
WASHINGTON
The
White
House
said
President
Bush
has
approved
duty-free
treatment
for
imports
of
certain
types
of
watches
that
are
n't
produced
in
``
significant
quantities
''
in
the
U.S.
,
the
Virgin
Islands
and
other
U.S.
possessions
.
The
action
came
in
response
to
a
petition
filed
by
Timex
Inc.
for
changes
in
the
U.S.
Generalized
System
of
Preferences
for
imports
from
developing
nations
.
Previously
,
watch
imports
were
denied
such
duty-free
treatment
.
Timex
had
requested
duty-free
treatment
for
many
types
of
watches
,
covered
by
58
different
U.S.
tariff
classifications
.
The
White
House
said
Mr.
Bush
decided
to
grant
duty-free
status
for
18
categories
,
but
turned
down
such
treatment
for
other
types
of
watches
``
because
of
the
potential
for
material
injury
to
watch
producers
located
in
the
U.S.
and
the
Virgin
Islands
.
''
Timex
is
a
major
U.S.
producer
and
seller
of
watches
,
including
low-priced
battery-operated
watches
assembled
in
the
Philippines
and
other
developing
nations
covered
by
the
U.S.
tariff
preferences
.
U.S.
trade
officials
said
the
Philippines
and
Thailand
would
be
the
main
beneficiaries
of
the
president
's
action
.
Imports
of
the
types
of
watches
that
now
will
be
eligible
for
duty-free
treatment
totaled
about
$
37.3
million
in
1988
,
a
relatively
small
share
of
the
$
1.5
billion
in
U.S.
watch
imports
that
year
,
according
to
an
aide
to
U.S.
Trade
Representative
Carla
Hills
.