U.S. congressional action on miscellaneous tariff bill (MTB) process

U.S. congressional action on MTB process

The House Ways and Means Committee today unanimously voted to pass legislation that would affect the tariffs on certain imported products. The legislation aims to revise the miscellaneous tariff bill (MTB) process. Through the MTB process, Congress temporarily suspended or reduced tariffs for certain imported products not made in the United States. The MTB regime expired in 2012.

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According to a Ways and Means release, the bill—the American Manufacturing Competitiveness Act of 2016—would provide a three-step process under the MTB regime.

What's next?

The bill will now be sent to the full House for its consideration. The House and Senate need to pass identical legislation before sending the bill to the president. The House has not yet scheduled action on this legislation. 

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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