MT Magazine July/August 2024

MANUFACTURING MATTERS

THE IMTS ISSUE

10

ADVOCACY

Biden Administration Announces Major Tariff Increases on Chinese Imports The Office of the U.S. Trade Representative (USTR) released its four-year review of the Sec. 301 tariffs imposed in 2018 by former President Donald Trump on $250 billion of imported goods from China. The USTR report found China continues to use unfair trade practices to gain world market share. In response, USTR is adding or increasing tariffs on several imports from China, amounting to $18 billion, including steel and aluminum (25% in 2024), critical minerals (25% in 2024), electric vehicles (100% in 2024), semiconductors (50% by 2025), and medical products (25%-50% in 2024). In addition, the 2018 tariffs will remain in place. President Joe Biden has also directed U.S. Trade Representative Katherine Tai to establish an exclusion process for machinery used in domestic manufacturing. As part of his presidential candidacy platform, Trump is proposing a 60% tariff on $427 billion in goods from China. China immediately vowed to retaliate.

INTERNATIONAL

The 'I' in IMTS Is International IMTS is upon us, and your months of preparation for a successful show are about to bear fruit. With visitors from more than 110 countries, IMTS is truly an international show. These foreign visitors are motivated and here on a mission to do business! You can be prepared as well by being up to date on the latest global trends and opportunities in the manufacturing space. Our free AMT members-only International Markets Briefing Breakfast on Wednesday morning on Sept. 11 is just the ticket to be in the know. This long-standing tradition allows you to stay abreast of the rapidly changing business environment in key international markets as presented by AMT’s international directors and general managers from China, India, Thailand, Mexico, Brazil, and Europe. With more than 100 years of combined industry experience, you don’t want to miss them.

This event always fills up fast, so please reserve your place by visiting Showpro.cdsreg.com/IIBB0924.

James Hockey | Incodema3D

#IAmIMTS

WHAT MATCHES WILL YOU MAKE AT IMTS? Manufacturing matchmakers come to IMTS – The International Manufacturing Technology Show to connect, find inspiration, and discover solutions.

Join me at McCormick Place in Chicago from September 9-14, 2024.

SCAN HERE TO REGISTER FOR IMTS 2024

INSPIRING THE EXTRAORDINARY