Extend Production Incentive Benefits to Jewelry Manufacturers in the U.S. Insular Possessions

This action amends the Departments' regulations governing duty-exemption allocations and duty-refund benefits for watch producers in the United States insular possessions (the U.S. Virgin Islands, Guam, American Samoa and the Commonwealth of the Northern Mariana Islands) due to the enactment of Pub. L. 106-36. This law amends additional U.S. notes to chapter 71 of the Harmonized Tariff Schedule of the United States (``HTSUS'') to provide a duty-refund benefit for any article of jewelry within heading 7113 which is the product of the Virgin Islands, Guam, American Samoa or the Northern Mariana Islands in accordance with the new provisions of the note in chapter 71 and additional U.S. note 5 to chapter 91. The rule amends the regulations by changing Title 15 CFR part 303 to include jewelry, creating a Subpart A for the current insular watch and watch movement regulations and a Subpart B for the new regulations pertaining to jewelry duty- refund benefits authorized by Pub. L. 106-36.