The bipartisan leadership of the U.S. House Ways and Means Committee and of the U.S. Senate Finance Committee today announced the introduction of a bill that would implement certain recommendations made to Congress by the U.S. International Trade Commission (ITC).
As explained in a Ways and Means release, the bill—Miscellaneous Tariff Bill Act of 2017 (H.R. 4318) or “MTB”—is intended to address issues that U.S. manufacturers encounter when they require inputs that are not made in the United States. The bill would not require those manufacturers to pay tariffs for such inputs by temporarily suspending or reducing the tariffs.
Read text of H.R. 4318 [PDF 1.2 MB] (510 pages)
Last year, the American Manufacturing Competitiveness Act of 2016 (AMCA) was enacted to allow U.S. businesses to petition for tariff relief from the ITC. On receiving a petition, the ITC would then determine whether each petition met the requirements of the AMCA, including the requirement that there be no domestic producer of a “like product” that objected to the tariff reduction or suspension at issue.
In August 2017, the ITC provided a final report to Congress that included recommendations concerning more than 2,500 petitions. The ITC recommended that more than 1,800 of the petitions be included in MTB legislation to be considered by Congress. After reviewing the ITC’s final report, the bill unveiled today was prepared to implement the ITC’s recommendations. Pursuant to the AMCA, Congress may not include products that were not recommended by the ITC, and only non-controversial provisions are to be included in the MTB.
For more information, contact a professional with KPMG’s Trade & Customs practice:
Douglas Zuvich | +1 (312) 665-1022 | email@example.com
Andrew Siciliano | +1 (631) 425-6057 | firstname.lastname@example.org
© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.