A bill in the U.S. House would renew a trade program that reduces input costs for farmers and ranchers.
U.S. Congressman Adrian Smith says the Miscellaneous Tariff Bill Reform Act would make U.S.-manufactured goods more competitive in domestic and international markets. “What has happened over the years is there have been layers of tariffs added on things that come in and that just increases the costs. There are no other places to acquire these products and it really impacts agriculture.”
The legislation would approve duty-free treatment of products recommended under the 2019 application process created by the American Manufacturing Competitiveness Act through December 31, 2025, in order to support domestic manufacturers who participated in that process in a good faith manner, provide retroactive duty relief on those items, back to January 1, 2021, make technical changes to align exemptions with the most recent revision of the Harmonized Tariff Schedule, align exclusions with the U.S.
