As the last Miscellaneous Tariff Bill (MTB) package expired at the end of the 112th Congress, manufacturers began to see their costs go up. Congress failed to pass a new package which lead to the expiration of duty suspensions on more than 600 products critical to manufacturers in the United States.
The MTB provides manufacturers a duty suspension on inputs not available in the U.S. that are critical to the manufacturing process. In its simplest terms, it helps to level the playing field for manufacturers and supports jobs. Currently, it is 20 percent more expensive to manufacture in the U.S. compared to our major trading partners, this is why a tool like the MTB, which lowers costs, is critical to our competitiveness.
One company that sees the MTB as essential to competitiveness is BASF. BASF is the world’s leading chemical company – The Chemical Company. Its portfolio ranges from chemicals, plastics, and performance products to crop protection products. BASF has more than 100 facilities in 31 states across the country and more than 15,000 employees in the U.S. alone. The MTB is critical to BASF’s competitiveness in the automotive, printing, packaging, telecommunications and agriculture markets.
“The MTB helps BASF remain competitive in the agriculture market which continues to see increased competition and more choices for customers,” said Ron Eva, BASF global sourcing and contracting manager. (continue reading…)