FLEXIBLE MAGNETS AND COMPOSITE GOODS CONTAINING FLEXIBLE MAGNETS.

SEC. 1553. FLEXIBLE MAGNETS AND COMPOSITE GOODS CONTAINING FLEXIBLE MAGNETS. Heading 8505 is amended—(1) by striking subheading 8505.19.00 and inserting the following new subheadings, with the article description for subheadings 8505.19.10, 8505.19.20, and 8505.19.30 having the same degree of indentation as the article description for subheading 8505.11.00: “8505.19.10Flexible magnet4.9%Free (A, CA, E, IL, J, JO, MX)45% 118 STAT. 2578 8505.19.20Composite goods containing flexible magnet4.9%Free (A, CA, E, IL, J, JO, MX)45% 8505.19.30Other4.9%Free (A, CA, E, IL, J, MX)45% ”. (b) Staged Rate Reductions.—Any staged reduction of a rate of duty proclaimed by the President before the date of the enactment of this Act, that—(1) would take effect on or after such date of enactment, and(2) would, but for the amendment made by subsection (a), apply to subheading 8505.19.00 of the Harmonized Tariff Schedule of the United States,applies to the corresponding rate of duty set forth in subheadings 8505.19.10, 8505.19.20, and 8505.19.30 of such Schedule (as added by subsection (a)).