Temporarily Suspends Or Reduces Import Duties On Certain Products Through December 2020 -
On September 13, 2018, President Trump signed the Miscellaneous Tariff Bill (“MTB”) Act of 2018 (H.R. 4318) into law. Congress presented the final MTB legislation to President Trump after the House of Representatives unanimously passed a slightly revised MTB bill in order to reconcile differences between the House and Senate versions.
As reported previously, Congress reinstituted the MTB process in 2016 as part of the American Manufacturing and Competitiveness Act of 2016 (the “Act”). MTB is designed to allow Congress to eliminate or reduce general import duties up to $500,000 per year for a period of up to three years on imported articles not otherwise available in the United States.
Under the revised statute, MTB relief is available to any importer of the particular product at issue and takes effect 30 days after the bill is signed into law. Thus, MTB relief will take effect on October 13 and runs through December 31, 2020. The temporary duty suspensions or reductions are associated with particular products and tariff classifications that are listed in the MTB legislation and which will be identified in Chapter 99 of the Harmonized Tariff Schedule of the United States (“HTSUS”).
Please see full publication below for more information.