Toy Association Tells Congress to Renew Miscellaneous Tariff Bill

April 28, 2022 | The Toy Association joined a coalition of more than 200 companies and industry groups that called on Congress to include a robust Miscellaneous Tariff Bill (MTB) in the final legislation that combines the Senate’s United States Innovation and Competition Act with the U.S. House of Representatives’ America COMPETES Act. 

If included, the MTB would retroactively reimburse businesses for tariffs paid on shipments of MTB products (goods that are not made domestically or readily available in the U.S.) since January 1, 2021. Since the previous MTB expired on December 31, 2020, manufacturers and other businesses have paid more than $500 million in tariffs, or $1.3 million per day, on MTB goods.

“With more than 90 percent of The Toy Association’s membership made up of small- and mid-sized companies, the inclusion of the MTB in final legislation would be a welcome relief to toymakers that have already been battling many other financial challenges in bringing their products to market − from the high-inflation economy to rising costs related to disruptions across their supply chains,” said Steve Pasierb, president & CEO of The Toy Association.

The letter also stressed that broad and arbitrary restrictions on future MTB cycles should not be included, as they would be difficult to implement, and the current process takes a more targeted and effective approach.

The Toy Association will continue to provide members with additional updates on these advocacy efforts.