[Federal Register Volume 69, Number 161 (Friday, August 20, 2004)]
[Rules and Regulations]
[Pages 51552-51553]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-19139]


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DEPARTMENT OF COMMERCE

International Trade Administration

DEPARTMENT OF THE INTERIOR

15 CFR Part 303

[Docket No. 040609177-4224-02]
RIN 0625-AA65


Changes in the Insular Possessions Watch, Watch Movement and 
Jewelry Programs

AGENCIES: Import Administration, International Trade Administration, 
Department of Commerce; Office of Insular Affairs, Department of the 
Interior.

ACTION: Final rule.

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SUMMARY: The Departments of Commerce and the Interior (the Departments) 
amend their regulations governing watch duty-exemption allocations and 
the watch and jewelry duty-refund benefits for producers in the United 
States insular possessions (the U.S. Virgin Islands, Guam, American 
Samoa and the Commonwealth of the Northern Mariana Islands). The rule 
amends existing regulations by updating the maximum total value of 
watch components per watch that is eligible for duty-free entry into 
the United States under the insular program.

DATES: This rule is effective August 20, 2004.

FOR FURTHER INFORMATION CONTACT: Faye Robinson, (202) 482-3526.

SUPPLEMENTARY INFORMATION: : The Departments of Commerce and the 
Interior (the Departments) issue this rule to amend their regulations 
governing watch duty-exemption allocations and the watch and jewelry 
duty-refund benefits for producers in the United States insular 
possessions (the U.S. Virgin Islands, Guam, American Samoa and the 
Commonwealth of the Northern Mariana Islands). The background 
information and purpose of this rule is found in the preamble to the 
proposed rule (69 FR 39375, June 30, 2004) and is not repeated here.
    The Departments amend 15 CFR 303.14(b)(3) by raising the maximum 
total value of watch components per watch that is eligible for duty-
free entry into the U.S. from $500 to $800. The insular watch program 
producers requested an increase because of a substantial increase in 
the price of gold and the weakness of the dollar against the euro over 
the last several years. Also, there has not been an adjustment in the 
maximum value since 1998. Raising the value level of watch components 
that may be used in the assembly of duty-free watches will help 
producers maintain the degree of diversity in the kinds of watches they 
assemble, thereby affording them an opportunity to maintain or 
hopefully increase shipments and increase territorial employment.
    ITA received four comments in response to the proposed rule and 
request for comments. The commenters expressed strong support for the 
proposed rule and thought that the long-term effect would be positive 
for the insular watch industry and its employees. Accordingly, the 
Departments adopt the provisions in the proposed rule without change.

Administrative Law Requirements

Administrative Procedure Act

    The Departments waive the 30-day delay in effectiveness for this 
rule because this rule relieves a restriction. (See 5 U.S.C. 
553(d)(1)). By raising the maximum value of watch components per watch 
that are eligible for duty-free entry, this rule will allow producers 
to import higher value watches than were allowed prior to the adoption 
of this rule. Therefore, this rule is effective upon publication.

[[Page 51553]]

Regulatory Flexibility Act

    In accordance with the Regulatory Flexibility Act, 5 U.S.C. 601 et 
seq., the Chief Counsel for Regulation at the Department of Commerce 
has certified to the Chief Counsel for Advocacy, Small Business 
Administration, that the proposed rule would not have a significant 
economic impact on a substantial number of small entities. The factual 
basis for this certification was published in the proposed rule and is 
not repeated here. No comments were received regarding the economic 
impact of this rule on small entities. As a result, a final regulatory 
flexibility analysis is not required and has not been prepared.

Paperwork Reduction Act

    This proposed rulemaking does not contain revised collection of 
information requirements subject to review and approval by the Office 
of Management and Budget (OMB) under the Paperwork Reduction Act of 
1995. Collection activities are currently approved by the Office of 
Management and Budget under control numbers 0625-0040 and 0625-0134.
    Notwithstanding any other provision of the law, no person is 
required to respond to, nor shall any person be subject to a penalty 
for failure to comply with a collection of information unless it 
displays a currently valid OMB Control Number.

E.O. 12866

    It has been determined that the rulemaking is not significant for 
purposes of Executive Order 12866.

List of Subjects in 15 CFR Part 303

    Administrative practice and procedure, American Samoa, Customs 
duties and inspection, Guam, Imports, Marketing quotas, Northern 
Mariana Islands, Reporting and recordkeeping requirements, Virgin 
Islands, Watches and jewelry.


0
For reasons set forth above, the Departments amend 15 CFR Part 303 as 
follows:

PART 303--WATCHES, WATCH MOVEMENTS AND JEWELRY PROGRAMS

0
1. The authority citation for 15 CFR Part 303 reads as follows:

    Authority: Pub. L. 97-446, 96 Stat. 2331 (19 U.S.C. 1202, note); 
Pub. L. 103-465, 108 Stat. 4991; Pub. L. 94-241, 90 Stat. 263 (48 
U.S.C. 1681, note); Pub. L. 106-36, 113 Stat. 167.


Sec.  303.14  [Amended]

0
2. Section 303.14 is amended by removing ``$500'' from the first 
sentence of paragraph (b)(3) and adding ``$800'' in its place.

James J. Jochum,
Assistant Secretary for Import Administration, Department of Commerce.
David B. Cohen,
Deputy Assistant Secretary for Insular Affairs, Department of the 
Interior.
[FR Doc. 04-19139 Filed 8-19-04; 8:45 am]
BILLING CODE 3510-DS-P; 4310-93-P