Lawmakers Push for Congressional Action on MTB and GSP
A bipartisan group of lawmakers asked House leadership in a Jan. 11 letter to move quickly on the Miscellaneous Tariff Bill Act. The MTB should be "either included in the emerging budget and spending package, as part of another package, or as a standalone measure," the 34 House members said. The MTB legislation was introduced in the Senate and House in November (see 1711090039). "We urge you and your leadership teams to act now to improve the competitiveness of manufacturers throughout the United States by passing the MTB legislation as soon as possible, as well as renewal of the Generalized System of Preferences."
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Since the last MTB expired in 2012, "U.S. companies have paid billions of dollars in tariffs on products not made or available domestically, to the detriment of American jobs and the competitiveness of our manufacturers," the lawmakers said. Past MTB legislation had "broad bipartisan support for nearly three decades." The MTB legislation currently in Congress includes about 1,700 eligible product petitions that are estimated to "result in $1.1 billion of duty savings over the next three years."