Obama signs tariff-relief bill

Published On: June 8, 2016Categories: Industry News, News

President Barack Obama recently signed a long-delayed tariff relief bill aimed at helping U.S. manufacturers save billions in costs, according to The Hill. The Miscellaneous Tariff Bill (MTB) measure, which cleared the Senate on May 10, was delayed for several years as lawmakers worked to craft legislation that would comply with the congressional ban on earmarks.

The bill will overhaul the process for reducing or eliminating tariffs on imported inputs and products not available or in short supply domestically. U.S. House and Senate lawmakers worked quickly on passing the legislation once they swept away any earmark issues.