FLEXIBLE MAGNETS AND COMPOSITE GOODS CONTAINING FLEXIBLE MAGNETS.

SEC. 3006. FLEXIBLE MAGNETS AND COMPOSITE GOODS CONTAINING FLEXIBLE MAGNETS.(a) In General.—Chapter 85 is amended by striking subheadings 8505.19.10, 8505.19.20, and 8505.19.30 and inserting the following new subheadings, with the article description for subheading 8505.19 having the same degree of indentation as the article description for subheading 8505.11.00: “8505.19Other: 8505.19.10Flexible magnets4.9%Free (A, AU, BH, CA, CL, E, IL, J, JO, MA, MX, P, SG)45% 8505.19.20Composite goods containing flexible magnets4.9%Free (A, AU, BH, CA, CL, E, IL, J, JO, MA, MX, P, SG)45% 8505.19.30Other4.9%Free (A, AU, BH, CA, CL, E, IL, J, JO, MA, MX, P, SG)45% ”. (b) Staged Rate Reductions.—Any staged reduction of a rate of duty proclaimed by the President before the date of the enactment of the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law 108–429), that—(1) takes effect on or after such date of enactment; and(2) would, but for the amendment made by this section, apply to subheading 8505.19, 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)).(c) Applicability.—The amendments made by this section shall take effect as if included in the enactment of the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law 108–429).