Reducing or Suspending More Than 1,600 Tariffs to Help American Businesses & Consumers (H.R. 4318)
Do you support or oppose this bill?
What is H.R. 4318?
(Updated October 22, 2018)
This bill was enacted on September 13, 2018
This bill — known as the Miscellaneous Tariff Bill Act of 2017 — would implement the recommendations of the U.S. International Trade Commission’s (ITC) report to Congress which called for the suspension or reduction of over 1,600 tariffs. Tariffs are taxes on imported goods which raise costs for U.S. manufacturers, thereby making them less competitive internationally. The bill addresses tariffs on a wide variety of products, ranging from life jackets for pets and basketballs to cocoa powder and industrial solvents.
The Miscellaneous Tariff Bill (MTB) process allows U.S. manufacturers to periodically file petitions with the ITC for tariff relief, which are then vetted and categorized if approved. Committees in Congress then draft legislation implementing the ITC’s report, which can’t include products that weren’t recommended for tariff reduction by the ITC or controversial provisions. The MTB petition cycle will next be available to manufacturers in Fall 2019.
Argument in favor
This commonsense, bipartisan bill would suspend or reduce more than 1,600 tariffs on the recommendation of the U.S. International Trade Commission, making American manufacturers more competitive internationally & reducing costs for consumers.
Argument opposed
Congress shouldn’t use the Miscellaneous Tariff Bill process, and should instead suspend or reduce tariffs as it pleases — even those that are controversial or weren’t suggested by nonpartisan U.S. trade experts.
Impact
American businesses that purchase goods subject to tariffs; and American consumers who face higher prices because of tariffs.
Cost of H.R. 4318
A CBO cost estimate is unavailable.
Additional Info
In-Depth: This bill was introduced by House Ways and Means Chairman Kevin Brady (R-TX) and Ranking Member Richard Neal (D-MA) along with their counterparts in the upper chamber, Sens. Orrin Hatch (R-UT) and Ron Wyden (D-OR), to reduce tariffs hurting American manufacturers:
“We are pleased to introduce the Miscellaneous Tariff Bill Act of 2017 (MTB), a bipartisan bill to empower American manufacturers to compete effectively around the world, create new jobs at home, and grow our economy. This legislation is based on recommendations provided to Congress by the independent and nonpartisan International Trade COmmission (ITC) after a transparent and open process established through legislation to comply with our rules.
Congress designed the MTB to address the problem faced by many American manufacturers who require certain inputs that are simply not made in the United States. Requiring those manufacturers to pay tariffs for such inputs increases their manufacturing costs and makes them less competitive internationally. The MTB will temporarily suspend or reduce these burdensome tariffs.”
This legislation has the support of 29 bipartisan cosponsors in the House, including 26 Republicans and three Democrats.
Media:
Summary by Eric Revell
(Photo Credit: TommL / iStock)The Latest
-
Biden Signs Ukraine, Israel, Taiwan Aid, and TikTok BillWhat’s the story? President Joe Biden signed a bill that approved aid for Ukraine, Israel, and Taiwan, which could lead to a ban read more... Taiwan
-
Protests Grow Nationwide as Students Demand Divestment From IsraelUpdated Apr. 23, 2024, 11:00 a.m. EST Protests are growing on college campuses across the country, inspired by the read more... Advocacy
-
IT: Here's how you can help fight for justice in the U.S., and... 📱 Are you concerned about your tech listening to you?Welcome to Thursday, April 18th, communities... Despite being deep into the 21st century, inequity and injustice burden the U.S. read more...
-
Restore Freedom and Fight for Justice With GravvyDespite being deep into the 21st century, inequity and injustice burden the U.S., manifesting itself in a multitude of ways. read more... Criminal Justice Reform