MTB 2016 – An Opportunity to Reduce or Eliminate Duties on Imported Goods for One Year
Between October 14, 2016 and December 12, 2016, the USITC will accept Miscellaneous Trade Bill petitions. The MTB petitions allow importers to seek a one-year duty reduction or elimination for certain articles that would otherwise pay duties.
The ITC will review the petitions, then issue reports to the U.S. House Ways & Means Committee along with the Senate Finance Committee. the reports are to include the Commission’s analysis and recommendations regarding the petitions, including whether there is domestic production of the article for which duty relief is sought, whether the estimated loss in revenues due to the duty suspension or reduction does not exceed $500,000, and whether the duty suspension or reduction will be available to any person importing the article.
Contact our attorneys to discuss whether your imported product may be a good petition candidate for duty savings.
The ITC notice is published here.