A bill to extend the temporary duty-free treatment for certain types of hosiery knitting machines and certain types of knitting needles; and to temporarily exempt certain other types of hosiery knitting machines and certain types of knitting needles.

Amends the Tariff Schedules of the United States to extend, through December 31, 1992, the duty-free treatment of single cylinder fine gauge hosiery knitting machines and double cylinder jacquard hosiery knitting machines. Grants duty-free treatment, through December 31, 1992, of all other double-cylinder hosiery knitting machines.

Extends, through December 31, 1992, the duty-free treatment of double-headed latch needles. Grants duty-free treatment, through December 31, 1992, of all other latch needles and other type needles for knitting machines.