Senate Panel Moves Tariff Bill

(Journal of Commerce Online – R.G.Edmonson)

Importers urge congress to complete legislation by year-end

The Senate Finance Committee belatedly kicked its miscellaneous tariff bill into gear, and is making up for lost time. Senators will have until October 30 to file requests for duty reductions or suspensions on specific imported products that have no equivalent manufacturer in the United States.

The miscellaneous tariff bill is normally routine and non-controversial legislation, but that changed this year due to the Senate’s late start. Last July, the Tariff Action Coalition, which consists of eight companies seeking action on imports, urged Congress to move forward quickly with the MTB. If a new bill is not signed into law by December 31, importers will lose some $500 million in tariff breaks now on the books. In comparison, the House has nearly completed work on its version of the bill, the coalition said. Read more here.