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NACD Applauds Passage of Miscellaneous Tariff Bill
National Association of Chemical Distributors (NACD) President Eric R. Byer tonight praised the U.S. House of Representatives for passing the Miscellaneous Tariff Bill Act of 2018 (MTB), which would provide tariff relief to roughly 1,660 products made outside of the United States. The Senate passed the bill unanimously in July, and it now heads to President Trump’s desk for his signature.
“It is encouraging to see that the House of Representatives and the Senate have taken steps to boost the economy by lowering tariff levels on products that American businesses depend on and have no choice but to import. Currently, U.S. businesses like chemical distributors lose $1 million per day on these tariffs, and passage of the MTB will save U.S. companies $1.1 billion in tariffs over the next three years. It’s no wonder the bill was resoundingly approved by both chambers.
“In a time when the trade arena seems full of uncertainty, NACD welcomes this common-sense relief for American companies. NACD members are among the countless businesses that have relied on the MTB to secure products for their customers that cannot be made domestically. Passage of the MTB gives American companies of all sizes the confidence and economic boost they need to expand facilities, increase hiring and continue investing in American commerce. We urge President Trump to swiftly sign this legislation into law."
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