MT Magazine November/December 2024

MANUFACTURING MATTERS

THE INDUSTRY OUTLOOK ISSUE

10

ADVOCACY

Are Major Tax Increases on the Horizon? The Department of Commerce’s Bureau of Industry and Security introduced new global export controls on four advanced technologies:

• Additive Manufacturing Items • Advanced Semiconductor Manufacturing Equipment • Quantum Computing Items • Gate-All-Around Field-Effect Transistor Technology

Exports that fall under these categories to countries participating in the Wassenaar Arrangement are generally presumed to be approved, with the exceptions of Malta, Russia, and Ukraine. Conversely, exports to nations deemed a national security concern, such as Albania, Armenia, Belarus, Cambodia, Cuba, China, Iraq, North Korea, and Russia, are typically denied. For further details, please visit BIS.gov. The U.S. Environmental Protection Agency issued a direct final rule postponing the reporting period for per- and polyfluoroalkyl substances (PFAS) under the Toxic Substances Control Act to July 11, 2025. The extension shifts the original start date from Nov. 12, 2024. Companies required to report PFAS data now have until Jan. 22, 2026, to fulfill their obligations. For additional information, visit epa.gov.

INTERNATIONAL

Data Drives Efficiency and Resilience Manufacturing has long stood out as the leading sector in terms of data generation. Utilizing this digital gold mine is crucial for a healthy outlook in global manufacturing. For years, the industry eagerly anticipated the potential of digital twin technology for predictive maintenance and performance monitoring. Today, this technology has become almost fundamental to modern manufacturing plant management by reducing maintenance costs, decreasing downtime, and increasing overall equipment effectiveness. Supply chain restructuring is another significant trend in the global manufacturing landscape, driven by the need to reduce risk and increase resilience. By adopting and implementing digital tools to improve visibility and traceability across the entire value chain, manufacturers can reduce dependence on single suppliers or geographic regions.

The key, in both cases, of course is the data. Without it, there is nothing but empty promise.