House approves bill to reduce import duties on some marine products - Trade Only Today

House approves bill to reduce import duties on some marine products

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The U.S. House of Representatives approved legislation that would lower costs for some marine products companies.

The National Marine Manufacturers Association said in its Currents newsletter that the House approved a package of miscellaneous tariff bills that reduce or suspend import duties on certain products for three years. The bill now moves to the Senate.

The NMMA said the products were fully vetted to ensure that there is no domestic production and that they do not cost more than $500,000 apiece. The products in the legislation are marine engine crankcases, marine cylinder heads, fishing equipment and some life jackets.

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