U.S. Rep. Jackie Walorski (R-IN) last week introduced bipartisan legislation that would give U.S. manufacturers additional tariff relief to help them stay competitive with China.
“China has a long record of unfair trade practices, and we need to continue holding them accountable while at the same time protecting American farmers, manufacturers, workers, and families,” Rep. Walorski said.
The congresswoman sponsored the Export Tariff Act, H.R. 7665, with original cosponsor U.S. Rep. Collin Peterson (D-MN) to provide American businesses another year of relief from tariffs under Section 301 of the Trade Act of 1974 by extending product exclusions currently in effect, according to a bill summary provided by Rep. Walorski’s office.
“The product exclusion process has brought much-needed relief to those paying the cost of tariffs, but many U.S. companies will face serious economic harm if their exclusions are not renewed before they expire,” explained Rep. Walorski. “Extending these exclusions for another year is a commonsense way to provide businesses with the long-term certainty they need, especially during the coronavirus crisis.”
If enacted, H.R. 7665 would extend for one year any Section 301 tariff product exclusions currently in effect, unless the USTR finds the product is strategically important or related to “Made in China 2025” or other Chinese industrial programs, and extending the exclusion would cause severe harm to the United States, according to the text of the bill.
In such cases, the USTR would be required to provide a detailed justification of the determination, according to the bill.
Rep. Peterson said that lawmakers must “do all we can” to offer U.S. businesses some flexibility to stay competitive with foreign manufacturers. “The Export Tariff Act will put manufacturers in a better position to continue to recover and rebuild by extending needed tariff relief,” he said.