ACC Testifies on Tariff Relief Provided by MTB Act of 2018

americanchemistry | April 08, 2019

WASHINGTON (April 8, 2019) – The American Chemistry Council (ACC) today testified on the economic impacts of the Miscellaneous Tariff Bill (MTB) Act of 2018 on the U.S. chemicals industry as part of a U.S. International Trade Commission (USITC) fact-finding investigation into the effects of temporary duty suspensions on the U.S. economy. The MTB Act, which President Trump signed into law last September, temporarily reduced or eliminated import duties on $1.1 billion in products that are not available in the United States, including a number of critical inputs to U.S. manufacturing processes – some produced exclusively in China. However, the Section 301 tariffs on many of those same imports still remain in force, preventing U.S. chemicals manufacturers and others from capitalizing the full tariff relief intended by the MTB.

Spotlight

The future of pharmaceutical companies looks uncertain. There could be a world entirely without pharma in the future. Innovative startups and preventive healthcare are slowly but surely crushing the demand for pills, which is all that the industry is selling now.

Spotlight

The future of pharmaceutical companies looks uncertain. There could be a world entirely without pharma in the future. Innovative startups and preventive healthcare are slowly but surely crushing the demand for pills, which is all that the industry is selling now.

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