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US Manufacturers Welcome Miscellaneous Tariff Bill

Mike Godfrey, Tax-News.com, Washington

17 January 2018


US manufacturers have praised the House passage of the bipartisan Miscellaneous Tariff Bill (MTB), which if approved by Congress will provide temporary tariff relief on a wide range of products otherwise unavailable in the US.

H.R. 4318, the Miscellaneous Tariff Bill (MTB) of 2018, passed the US House of Representatives by 402 votes to 0 on January 16, 2018. It now moves to the Senate for approval before being presented to President Trump for signing.

"While it may not make headlines, this is a top story and a big deal for manufacturers," said National Association of Manufacturers (NAM) President and CEO Jay Timmons in a January 16 statement. "Manufacturers and other businesses face what amounts to a nearly USD1m-a-day tax every additional day this issue goes unresolved. That's thanks to billions of dollars in burdensome tariffs that companies have had to pay since the last MTB expired at the end of 2012, just for buying the supplies they need to build products in America. That's why we are now looking to the Senate to act quickly to get this tariff-relief legislation to the President for his signature."

The new bill covers over 1,600 products – more than double the last MTB – and is the result of a new process established by the American Manufacturing and Competitiveness Act of 2016, which invites US firms to submit petitions for products that the US International Trade Commission (USITC), Commerce, and US Customs and Border Patrol then consider and recommend to Congress for inclusion or exclusion.

"This bipartisan, bicameral legislation is a win for American manufacturers, their workers, and families across the country," said House Ways and Means Committee Chairman Kevin Brady (R-TX). "Today's decisive and overwhelmingly bipartisan vote brings us one crucial step closer to providing much-needed tariff relief for American job creators. I strongly encourage the Senate to pass this legislation as soon as possible and join the House in taking action to help our manufacturers and workers compete and win."

Manufacturers across the US have also stressed the importance of the bill.

"The MTB is critical to the ability of companies like DuPont to maintain jobs and create new opportunities for business growth in the United States," said Jim Hay, Business Director at DuPont Crop Protection in Wilmington, Delaware. "Duty suspensions enhance the competitiveness of our US manufacturing base by lowering our input costs and providing us the tools we need to sustain US production. Lower manufacturing costs create opportunities for business growth to support our company's mission of sustainable growth."

"In order to continue innovating and expanding, we need the MTB passed quickly and retroactively," said Mike Cockrill, Vice President - Supply Chain – at Bayer CropScience in North Carolina. "Overall, manufacturers stand to lose USD748m over the next three years if Congress fails to act."

TAGS: tax | business | pensions | Manufacturing | law | tariffs | manufacturing | legislation | United States

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