SOCMA was founded on the principle of supporting the specialty chemical industry on international trade policy and strongly supports U.S. specialty chemical manufacturers fair access to foreign markets. SOCMA works to ensure that tariffs are properly applied to products that are manufactured and available for purchase in the US.
SOCMA will continually work on legislative and regulatory issues related to strengthening U.S. competitiveness, including restoring the Miscellaneous Tariff Bill (MTB), restoring the Generalized System of Preferences (GSP), and reopening a fair and transparent exemption process for the Section 301 tariffs.
Due to Congressional inaction, the MTB and GSP programs expired on December 31, 2020. A bill to re-authorize both MTB and GSP was introduced in June of 2023, including limited retroactivity and minor changes to the GSP program.
As required by law, the Section 301 tariffs are undergoing review by the U.S. Trade Representative (USTR). The findings should be published by the end of 2023. The Section 301 exclusion processes were ended in 2021 and the majority of the previously granted exclusions expired.
SOCMA supports the reauthorization of MTB and GSP, with provisions for retroactivity to Jan 1, 2021. SOCMA endorses reopening the exclusion process to all products on the Section 301 tariff lists, with greater transparency throughout the process and established criteria for obtaining an exclusion.
SOCMA urged Congress by including a robust Miscellaneous Tariff Bill with full retroactivity in final legislation that combines the United States Innovation and Competition Act with the America COMPETES Act.
SOCMA formally requested that the Office of The United States Trade Representative (USTR) reinstate an exclusion process for chemicals imported from China that are currently subject to a 25% surtax under the Section 301 investigation of China.