MVMA PRESIDENT ISSUES STATEMENT IN RESPONSE TO PASSAGE OF 'MISCELLANEOUS TARIFF ACT OF 1992'
MVMA PRESIDENT ISSUES STATEMENT IN RESPONSE TO PASSAGE OF 'MISCELLANEOUS TARIFF ACT OF 1992' WASHINGTON, July 31 /PRNewswire/ -- Thomas H. Hanna, president and chief executive officer of the Motor Vehicle Manufacturers Association of the United States, Inc. (MVMA), issued the following statement in response to passage today of H.R. 4318, the "Miscellaneous Tariff Act of 1992," by the U.S. House of Representatives: Passage of H.R. 4318 is a significant first step toward reinstating the U.S. Customs ruling that all multipurpose vehicles (MPVs) should be classified as trucks. If enacted into law, the bill will reverse a policy that has cost American taxpayers and the U.S. economy hundreds of millions of dollars in duty revenue and provided importers of the vehicles with an unfair advantage in this fast- growing and fiercely competitive market segment. The reclassification of all MPVs (vans, minivans and sport utility vehicles) properly as trucks, would close a major loophole that has allowed importers, since 1989, to treat four-door MPVs as cars and pay a lower tariff, despite the fact that those same vehicles are classified as trucks for other U.S. regulatory and tax purposes. This policy resulted in a unilateral trade concession to Japanese MPV importers, amounting to over $1 billion in lost duties, for which the U.S. received nothing in return. The MPV provision in H.R. 4318 would enhance U.S. employment and restore equity and consistency to U.S. tariff policies. We trust that when the Senate considers this measure, it will also vote in favor of U.S. workers and our economy. -0- 7/31/92 /CONTACT: Ed Lewis of the Motor Vehicle Manufacturers Association of the United States, 202-775-2715/ CO: Motor Vehicle Manufacturers Association of the United States, Inc. ST: District of Columbia IN: AUT SU: LEG
DC -- DC016 -- 5694 07/31/92 14:41 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 31, 1992|
|Previous Article:||STATEMENT BY CHRYSLER CORPORATION ON PASSAGE OF HR 4318 & MPV AMENDMENT|
|Next Article:||MEDIQ SELLS SUBURBAN MEDICAL SERVICES UNIT; REDUCES SENIOR DEBT|