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ARTICLE · 01 JUNE 2016

New Bipartisan Act Will Simplify The Temporary Tariff-Reduction Process

Holland & Knight
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The American Manufacturing Competitiveness Act of 2016, recently passed by Congress and signed by President Obama, will overhaul the process of developing a Miscellaneous Tariff Bill.

United StatesInternational Law
Ronald Oleynik
Ronald Oleynik
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Ronald Oleynik is a Partner and Farid Hekmat an Associate in Holland & Knight's Washington D.C. office

HIGHLIGHTS:

  • The American Manufacturing Competitiveness Act of 2016, recently passed by Congress and signed by President Obama, will overhaul the process of developing a Miscellaneous Tariff Bill (MTB).
  • Companies no longer need to ask their congressional representatives to submit bills for temporary duty reductions or suspensions.
  • Instead, the U.S. International Trade Commission will solicit petitions for temporary duty reductions or suspensions from businesses directly, then compile them into a report for Congress to review.

President Obama signed the American Manufacturing Competitiveness Act of 2016 (the Act) into law on May 20, 2016, to overhaul the process of developing a Miscellaneous Tariff Bill (MTB). Under this Act, companies will not need to request their congressional representatives to submit bills for temporary duty reductions

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