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.