December 23, 2021 – Earlier this month, over 200 US companies and associations sent a letter appealing to the leaders of Congress to pass a comprehensive Miscellaneous Tariff Bill (MTB) by the end of the year. It never made it out of committee.
The MTB “temporarily reduces or suspends tariffs on goods not made domestically or are not available in sufficient quantities in the United States,” according to the letter.
According to the National Association of Manufacturers (NAM), “the MTB would eliminate import tariffs of more than $1.5 billion over three years (with full retroactivity to January 2021).”
The MTB promises substantial economic growth (GDP) and at the same time would ostensibly help stem inflation.