A bill to apply duty-free treatment under certain circumstances to articles produced in the insular possessions of the United States.

[AI summary unavailable — showing source text] Amends the Tariff Schedules of the United States to exempt from customs duties products of the insular possessions of, the United States if not more than 70 percent of the products value is attributable to foreign materials, until the value of such imports reaches a specified annual total. Exempts watch products from such quota. Exempts from customs duties products of the insular possessions of the United States upon re-entry, if applicable duties were previously paid.…