000230
G.r. 323
CONFIDENTIAL
- 11 -
Value
Tariff
U.S.A.
$136.7 million
12.5% a.v.
U.K.
$23.0 million
nil
Canada
$5.0 million
20% a.v.
Panama
$3.8 million
18.5% a.v.
W. Germany
$3.7 million
17.6% a.v.
Spain
33.6 million
50% a.v.
and total exports had increased sharply to $184.7 million.
In 1961, the trade was of the opinion that the loss of preference in the U.K. market would have little effect as most Hong Kong transistor radios were shipped to the U.K. without claiming preference. The present C.E.T. on this item (22% a.v.) is only marginally higher than the full rate of duty (20%) in the U.K. and is to be reduced to 14% as a result of the Kennedy Round.
Its adoption by the U.K. would therefore be unlikely to affect Hong Kong's export performance seriously. case, this item is now much more dependent on the U.S. than on the U.K. market.
In any
Watch bands, metal (excluding precious metal) (897 201)
In 1961, the principal markets for this item were
U.K.
U.S.A.
$3.6 million
$3.0 million
out of total exports valued at $10.5 million.
In 1966, the principal markets were
Value
U.S.A.
$11.0 million
Tariff
18% - 55% a.v.
U.K.
$4.1 million
nil
Canada
$2.0 million
out of total exports of $29 million.
W. Germany took #769 thousand in 1966.
30% a.v.
Of the E.E.C. Member States,
This item is now more dependent on the U.S. than on the U.K. market, and Hong Kong has achieved some success in surmounting high tariffs in the U.S.A. and Canada. The U.K.'s adoption of the 18% C.E.T. (without concession in the Kennedy Round) should not present too serious a problem.
Imitation Jewellery (897 202)
In 1961, the principal markets for this item were
U.K.
U.S.A.
CONFIDENTIAL
16.3 million
$8.0 million
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