What type of bike does this text refer to? While looking up things for answering another question, I found that USA has a separate import duty category for "Bicycles having a front wheel exceeding 55 cm but not exceeding 63.5 cm in diameter and a rear wheel exceeding 63.5 cm in diameter, weighing less than 16.3 kg complete without accessories and not designed for use with tires having a cross-sectional diameter exceeding 4.13 cm, valued $200 or more each". Does this refer to an existing type of bicycle, and what is it?

As far as I know, the largest common rim size is exactly 63.5 cm, but I have no idea if tire is in included in the number.
There is at least some evidence findable via google that 'Wheel size' here is interpreted with the vernacular 'outer diameter of the tire' rather than the bead seat diameter.

e.g., a common 26" Mountain Bike from the era is described as having '66.4 cm wheels' not 57.1 or whatever they would have been.


  Model ATB-S is the Rebel 10 speed mountain bicycle. The frame size is
  48.26 centimeters (19 inches) and the wheels size is 66.4 x 5.397 centimeters (26 x 2.125 inches). This bicycle weighs 17.3 kilograms.


If we accept they mean the vernacular outer diameter "wheel size" then it's simply describing the Time Trial 'Funny Bike' that was popular 30-40 years ago.