Plastics Industry is Pleased with House Passage of Miscellaneous Tariff Bill

On Wednesday, April 27th the House of Representatives passed H.R. 4923, the American Manufacturing Competitiveness Act of 2016. Commonly referred to as the Miscellaneous Tariff Bill (MTB), this legislation outlines the process by which the International Trade Commission (ITC) and Congress shall receive, consider and approve duty suspensions and reductions.

Until the end of 2012, duty suspensions were allowed for imported manufacturing components that are not available from U.S. sources. Since 2013, duties have created an artificial distortion in the economy and negatively affected United States manufacturers and consumers.

Members of Congress have been considering ways to reintroduce the MTB. H.R. 4923 instructs the ITC to establish a process of accepting petitions for duty suspensions and reductions. The ITC shall then report to Congress the effects of such petitions for the House Ways and Means Committee to examine before drafting legislation. This new process provides for a transparent process of reducing barriers to trade that currently exist.

The entire plastics industry value chain will benefit from passage of H.R. 4923. As the nation’s third largest manufacturing sector, lack of a process for suspending and reducing duties on products necessary in the manufacturing of plastic products has increased the cost of manufacturing for many of today’s important goods. We ask that the Senate approve - and that the President sign – this bill as quickly as possible.

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Founded in 1937, SPI: The Plastics Industry Trade Association promotes growth in the $427 billion U.S. plastics industry. Representing nearly one million American workers in the third largest U.S. manufacturing industry, SPI delivers legislative and regulatory advocacy, market research, industry promotion and the fostering of business relationships and zero waste strategies. SPI also owns and produces the international NPE trade show. All profits from NPE are reinvested into SPI’s industry services. Find SPI online at www.plasticsindustry.org and www.inthehopper.org.

"From resin suppliers and equipment makers to processors and brand owners, SPI is proud to represent all facets of the U.S. plastics industry," said William R. Carteaux, president and CEO, SPI. "Our most recent economic reports show that the plastics industry as a whole is resilient, and has come through the recession significantly better than other U.S. manufacturing sectors."