President Trump signed the Miscellaneous Tariff Bill Act of 2018 into law this week

President Trump signed the Miscellaneous Tariff Bill Act of 2018 into law this week

The American Apparel & Footwear Association (AAFA) has commended President Donald Trump on signing the Miscellaneous Tariff Bill (MTB) Act of 2018 into law.

The Bill, the US Senate's version of which was passed earlier this month, is expected to collectively save more than US$1bn in import tariffs over the next three years and help boost US manufacturing output by more than US$3.1bn. 

President's Trump's move to sign it yesterday (13 September) will temporarily reduce or eliminate duties on US imports of important inputs for domestic manufacturing and specific finished products that are not manufactured in the US. Most of the products covered by the MTB are chemicals, but textiles, apparel and footwear are included as well.

"This is a welcome move by the President, that will have a positive impact on American businesses, American workers, and American consumers," says Rick Helfenbein, president and CEO of the American Apparel & Footwear Association. "AAFA has long supported the MTB, as it provides American businesses with essential tax savings on certain imports, when those products and inputs are not domestically available. With the apparel and footwear industry representing six percent of all imports to the US but currently paying 51% of the duties collected by the US government, this relief is much needed. These savings will ultimately be used to invest in America's workforce, product innovation, and reduce prices for American consumers."