ACC Testifies on Tariff Relief Provided by MTB Act of 2018
April 08, 2019 / americanchemistry
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.