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

[AI summary unavailable — showing source text] Amends the Tariff Schedules of the United States to temporarily suspend the duty on products (other than watches or movements) of the insular possessions: (1) which contain foreign materials valued at between 50 and 70 percent of the total product value; and (2) which are not designated import sensitive. Establishes a ceiling on the quantity of articles which qualify for such duty-free treatment. Permits any interested party to submit a request to the Office of the Special Representative for Trade Negotiations: (1) that the aforementioned articles be designated as import sensitive; or (2) that such designation be removed. Requires the President to report to Congress concerning the economic effect of these amendments on the insular possessions.…