Outdoor Industry Association will hold a webinar June 22 to explain how companies can take advantage of the recently reformed Miscellaneous Tariff Bill (MTB) process to reduce or eliminate duty on qualified imports.
MTBs temporarily suspend import tariffs on certain imported product inputs and some finished products, usually for three years. They must be non-controversial, meaning there is no opposition from United States manufacturers and they cannot exceed $500,000 in lost revenue to the U.S. Treasury.
OIA help members companies utilized past MTB rounds to save more than $30 million in duties.
During its webinar, which will begin at 3 p.m. ET, OIA Manager of International Trade Rich Harper and Ron Sorini from Sorini, Samet & Associates will discuss:
- The criteria for an MTB.
- Past examples of MTBs sponsored by OIA.
- The new process for considering MTBs.
- How you can work with OIA on developing an MTB proposal.
Background
Under the new MTB process, U.S. companies will submit petitions for MTBs directly to the United States International Trade Commission (USITC), rather than to members of Congress, as had been the process in the past. The USITC will then conduct a thorough analysis and review to identify any competitive domestic producers of each proposal before submitting a report to Congress.
The House Ways and Means Committee and the Senate Finance Committee will then prepare a package of cleared MTBs that would be voted on by Congress. The new process was developed as a way to ensure that MTBs comport with House rules prohibiting direct spending earmarks.
OIA is closely tracking this new process and has developed this webinar to begin an industry-wide MTB effort to fully utilize the process and deliver subsequent cost savings to outdoor companies.
To register for the webinar, click here.
