July 27, 2018
|FOR IMMEDIATE RELEASE
(703) 527-6223 x3074
NACD Applauds Senate Passage of Miscellaneous Tariff Bill
Today, National Association of Chemical Distributors (NACD) President Eric R. Byer praised the U.S. Senate for unanimously passing the Miscellaneous Tariff Bill Act of 2018, which would provide tariff relief on more than 1,600 imported products unavailable domestically in the United States. The U.S. House of Representatives passed its version of the bill last January.
“NACD is pleased that the Senate took action to lower tariff levels on products that American businesses like chemical distributors have no choice but to import. The tariffs on the products the Senate identified have been costing domestic companies $1 million a day. Additionally, failure to approve the MTB, which expired in 2012, will cost importers $1.1 billion in tariff payments over the next three years if this legislation isn’t signed into law.
“NACD members, and many small businesses, have relied on the MTB to secure costly and hard to find products for their customers. By reauthorizing the MTB, American companies of all stripes will be better positioned to expand their facilities and hire new employees. NACD urges the Senate and House to quickly reconcile the differences between their respective bills and send final legislation to President Trump."
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