On May 10, 2016, the US Senate passed legislation restarting the Miscellaneous Tariff Bill (MTB) process. President Barack Obama is expected to sign the legislation into law shortly, restarting a process that will permit companies to seek temporary reductions or suspensions in import duties on certain products. As noted in Mayer Brown's April 18 Legislative Update, this process is different in several important ways from the prior MTB process and starts with the filing of a formal petition at the US International Trade Commission (ITC). The ITC is expected to begin accepting petitions this coming October. However, given the types, and the volume, of information that petitioners will be expected to submit to the ITC, interested companies should begin preparing their petitions much earlier.
Originally published May 11, 2016
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