Posted: Aug 11, 2010 2:23 PM by Melissa Canone
WASHINGTON (AP) - President Barack Obama has signed a bill meant
to reduce costs for U.S. manufacturers and help them regain their
footing in the shaky economy.
The law would reduce and suspend tariffs on certain materials
U.S. companies must import to make their products. It passed both
houses of Congress with bipartisan support.
The president signed the bill into law in a ceremony in the East
Room of the White House.
The National Association of Manufacturers says the new law will
help create jobs, cut costs for businesses and consumers and boost
U.S. exports. The industry trade group says studies show the bill
would increase production by $4.6 billion and support 90,000 jobs.