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THE UNIVERSIT AF MICHHAA
FEB 23 191
MAIN READING ROOM
COMMITTEE ON FINANCE
UNITED STATES SENATE
RUSSELL B. LONG, Chairman
Report of the President, pursuant to
section 2 of Public Law 89–229
FEBRUARY 1, 1966
Printed for the use of the Committee on Finance
U.S. GOVERNMENT PRINTING OFFICE
DOC. EX. PROJECT
COMMITTEE ON FINANCE
RUSSELL B. LONG, Louisiana, Chairman GEORGE A. SMATHERS, Florida
JOHN J. WILLIAMS, Delaware CLINTON P. ANDERSON, New Mexico FRANK CARLSON, Kansas PAUL H. DOUGLAS, Ilinois
WALLACE F. BENNETT, Utah ALBERT GORE, Tennessee
CARL T. CURTIS, Nebraska HERMAN E. TALMADGE, Georgia
THRUSTON B. MORTON, Kentucky EUGENE J. MCCARTHY, Minnesota
EVERETT MCKINLEY DIRKSEN, Illinois VANCE HARTKE, Indiana J. W. FULBRIGHT, Arkansas ABRAHAM A. RIBICOFF, Connecticut LEE METCALF, Montana
Tom VAIL, Chief Counsel
Public Law 89-229 89th Congress, H.R. 5768
October 1, 1965 AN ACT To extend for an additional temporary period the existing suspension of duties on certain classi
fications of yarn of silk, and for other purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That * **
Sec. 2. The President shall promptly cause a study to be made of the feasibility and desirability of separate classification in the Tariff Schedules of the United States for those yarns of man-made fibers commonly referred to as textured or texturized yarns. He shall report the results of such study, including any recommendations as to the appropriate rate or rates of duty for such yarns, to the House of Representatives and to the Senate not later than February 1, 1966. Approved October 1, 1965.
LETTER OF TRANSMITTAL
To the Congress of the United States:
I am transmitting herewith, in accordance with section 2 of Public Law 89–229, a report concerning the feasibility and desirability of separate classification in the Tariff Schedules of the United States for those articles of manmade fibers commonly referred to as textured or texturized yarns.
The report concludes that such separate tariff classification for textured yarns is feasible but not desirable in view of the current situation.
Textured yarn production in the United States has been rising steadily in recent years, from 74 million pounds in 1960 to over 250 million pounds in 1965. During this period, the independent throwster industry, which processes a major portion of textured yarn, has had rising employment. At the same time, imports have been declining: The Tariff Commission has estimated that the annual imports of textured yarns declined from more than 2 million pounds in 1962 to less than 1 million pounds in 1965, representing less than one-half of 1 percent of the domestic market.
However, the representatives of the domestic industry have argued that a serious threat of injury looms in the future. In part because of this concern, the report recommends that more accurate import data for textured yarns be provided in the future, so that Congress, the executive branch, and the industry can keep close watch on import levels and consider additional measures should they be warranted. I am therefore directing that steps be taken to obtain more accurate data on imports of textured yarns.
I am also transmitting for the information of the Congress the report of the Tariff Commission on textured yarns which I requested.
LYNDON B. JOHNSON. THE WHITE HOUSE, February 1, 1966.