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Published on Aug 12, 2010
As a part of his ""Make it in America"" agenda, President Barack Obama has signed a bill this week aimed at reducing tariffs on materials used in production to lower costs for US manufacturers.
Just before signing the Manufacturing Enhancement Act, Obama had this to say: ""Our economy has fallen into the habit of buying from overseas and not selling the way it needs to, but it is vitally important that we reverse that trend, cheaper and easier for American manufacturers and American workers to do what they do best: build great products and sell them around the world,""
Tariffs would be suspended or reduced on raw materials such as shoe leather, computer chips, and more.
Officials from the Association of Equipment Manufacturers said the bill is a ""small step to leveling the playing field for equipment manufacturers that seek to export American-made products,"" but asked that Congress ""take immediate action on substantive manufacturing policies.""