Up to $40 Million in Tariff Relief on Sports & Fitness Products Previously Approved
Washington, D.C. (May 15, 2024): More than three years after MTB tariff relief lapsed, Congress is moving to renew this vital program. The House Ways & Means Trade Subcommittee Chairman Adrian Smith (R-NE) introduced the “Miscellaneous Tariff Bill Reform Act” on May 14th with support from 17 House Ways & Means members.
“Congress must renew this historically bipartisan legislation which unanimously passed out of the Ways & Means Committee in 2016,” stated Ways & Means Trade Subcommittee Chairman, Adrian Smith. “Fighting for American workers and industry demands we do everything we can to make U.S.-manufactured goods more competitive in both domestic and international markets. This legislation will deliver input cost relief to American producers, in turn benefiting consumers worldwide.”
The proposed MTB bill would offer duty-free treatment through 2025 for products recommended by U.S. International Trade Commission, after vetting petitions, for inclusion in the MTB bill. MTB relief would be retroactive from January 1, 2021. The bill would align with U.S. Trade policy toward China by excluding finished products subject to Section 301 duties but allow U.S. manufacturers duty-free access to parts and components. The bill would reauthorize the USITC-initiated processes for vetting future MTB relief petitions to create new tariff relief opportunities for domestic manufacturers on inputs not made in the U.S.
The introduction of the MTB Reform Act is a long overdue first step in the process. House Republicans will now look to move the MTB Reform Act through the Ways & Means Committee and then bring it to the House floor for a vote. No timetable has been set for Ways & Means consideration. While MTB has always been bipartisan, the heat of an election year has kept Democrats off this bill as they seek to build support with organized labor leading up to the fall elections. With Democrats controlling the Senate, a compromise will be necessary to get it through the Senate and to the President’s desk in 2024.
For more information or for questions, please contact Bill Sells, SVP, Government & Public Affairs, at [email protected].