AAFA Welcomes New Tariff Reduction Law
September 13, 2018 | WASHINGTON, D.C.
The American Apparel & Footwear Association commended President Trump after he signed the Miscellaneous Tariff Bill (MTB) Act of 2018 into law today. The move will temporarily reduce or eliminate duties on U.S. imports of important inputs for domestic manufacturing and specific finished products that are not manufactured in the U.S.
“This is a welcome move by the President, that will have a positive impact on American businesses, American workers, and American consumers,” said Rick Helfenbein, president and CEO of the American Apparel & Footwear Association. “AAFA has long supported the MTB, as it provides American businesses with essential tax savings on certain imports, when those products and inputs are not domestically available. With the apparel and footwear industry representing six percent of all imports to the U.S. but currently paying 51 percent of the duties collected by the U.S. government, this relief is much needed. These savings will ultimately be used to invest in America’s workforce, product innovation, and reduce prices for American consumers.
“Thank you to the President and all the Members of Congress who played a role in supporting this bill, especially Senators Hatch and Wyden and Representatives Brady and Neal, who led this bipartisan, bicameral effort in their respective houses.”