Senate Passes Tariff Relief Bill, Saving Industry Millions

SOURCE: Sports & Fitness Industry Association

SILVER SPRING, MD (July 30, 2018) – The U.S. Senate passed the Miscellaneous Tariff Bill (MTB) on July 26, 2018, which will lower existing tariffs on a wide variety of imported goods. The Sports & Fitness Industry Association (SFIA) led over 30 successful petitions on various industry products, which will now receiveduty relief under the new, revised MTB. SFIA expects the House to adopt the Senate version of the bill, enabling it to be sent to President Trump for a signature at an earlier date. If the Senate version of the bill is signed, it will likely go into effect mid-October, and will expire on December 31, 2020. SFIA will organize petitions for duty relief beyond 2020. Regardless of when the new tariff rates go into effect, the bill will create a total of $16.5 million in duty relief annually.

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