ISPA Insider | May 4, 2016

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House Passes Bill to Ease Tariffs on Product Components Not Available in the U.S.

Last week, the U.S. House passed legislation (H.R. 4923) to establish a process for a Miscellaneous Tariff Bill (MTB) which allows manufacturers to seek the elimination of tariffs on products and components that aren’t produced or available in the U.S. Some ISPA members have used MTBs in the past to seek elimination of certain tariffs on components used in mattresses, such as viscose rayon.

In the past, MTBs were regularly considered by Congress but have become controversial in the last few years as some lawmakers regard them as “earmarks.” In an effort to appease members of Congress who opposed such bills, the MTB process has been revamped and allows companies to seek tariff relief through the International Trade Commission. ISPA supported the passage of this bill and will be asking the Senate to do the same.

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ISPA EXPO 2016 Highlights Featured in the May Issue of BedTimes

Check out the May issue of BedTimes to catch a glimpse of some of the offerings at the biggest-ever ISPA EXPO held March 9-12, in Orlando, Florida. The issue, online now at www.bedtimesmagazine.com and arriving in your mailbox this week, gives you a wrap-up of what’s new in machinery, foams, springs, ticking and more. In addition to catching up on components trends, learn what’s going on with chemical regulations and how ISPA is helping to educate policymakers. Also in this issue, read about Canada’s Foamco Industries, which has risen from the ashes of a devastating fire two years ago. Plus, find all the stories on industry news, newsmakers and more that you count on every month.

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Did You Know?

The Better Sleep Council has Mother’s Day e-cards on their Pinterest page! Feel free to share with those special women in your life for Mother’s Day this coming Sunday.

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May is Better Sleep Month!

May is Better Sleep Month

May is here and to start the celebration, the Better Sleep Council will be co-hosting a Tweet Chat with the Diabetes Influencers TONIGHT from 8-9 p.m. EST. Be sure to follow @BetterSleepOrg and @ISPASleep and use #BetterSleepMonth to follow the conversation!

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US Economy Slowed During Q1 as Real GDP Grew Only 0.5% and Personal Spending Rose 0.1%

Real Q1 GDP grew a disappointing 0.5%, according to this week’s Monday Economic Report published by the National Association of Manufacturers. Personal spending in March rose just 0.1% compared to February (although year-over-year data is more positive, up 3.9% in February and 3.5% in March). The sluggish economic data prompted the Federal Reserve to refrain from further increases to short-term interest rates when the Federal Open Market Committee met last week.

The manufacturing sector also continues to struggle. New durable goods orders increased by just 0.8% in March (compared to an anticipated 1.8% increase, but rebounded some from a 3.1% decline in February). Year-over-year, new durable goods orders have fallen 2.5%. Turning to trade, preliminary data suggest that the March goods trade deficit is at its lowest level in over a year, although the decline stems largely from a sharp decline in goods imports, not growth in exports.

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