ITC Issues Final MTB Report to Congress
The International Trade Commission is recommending that 2,695 petitions for tariff reductions be included in a Miscellaneous Tariff Bill, and 705 petitions be rejected, it said in a news release Aug. 10. Another 42 petitions were ineligible for a decision, either because they were incomplete, or because of the company that submitted them. The recommendations were within a final report to be considered by Congress as part of the MTB process. “The submission of today’s report marks the completion of the second and final petition cycle required by the law,” the ITC said.
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The final report saw little change from the preliminary report (see 2006090038), which recommended 2,632 petitions be included and 805 rejected. The vast majority of products that will receive tariff reductions, if Congress passes the MTB, are chemicals, though more than 700 categories of machinery or tools are also covered; some consumer goods, such as shoes, coats, hats and belts, are also covered. Those goods, along with textiles for a U.S.-based mill, accounted for more than 500 petitions.