Bipartisan Bill Would Suspend Tariff on Bike Components
Rep. Vern Buchanan, R-Fla., and Rep. Mike Thompson, D-Calif., introduced a bill that would suspend tariffs on imported bicycle components for U.S. assembly operations.
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"This pro-manufacturing legislation supports domestic production capacity, drives investment and gives U.S. businesses a competitive edge in global markets," Buchanan said in a press release.
"Ninety-seven percent of bikes purchased in the United States are made elsewhere. It’s time we change that. The U.S. Bicycle Production and Assembly Act would give bike manufacturers the foothold they need to grow a thriving industry right here in the United States," Thompson said.
Both men are on the House Ways and Means Committee.