PeopleForBikes, a national trade association for the bicycle industry, pledged its support for the U.S. Bicycle Production and Assembly Act. This bi-partison bill focuses on accelerating domestic bicycle manufacturing by removing tariff-related barriers.
The act was introduced by House Ways and Means committee members and Congressional Bicycle Caucus co-chairs, Vern Buchanan (R-F.L.) and Mike Thompson (D-C.A.). The goal is to reduce or eliminate tariffs on imported bicycle components that are used in domestic assembly. Additionally, it focuses on:
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Opening new opportunity for companies to domestically produce bikes.
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Exempts qualified imports from Section 301 and other punitive tariffs, when used for complete bicycle production.
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Sets measurable goals to assemble two million bicycles, annually, in the U.S. within five years, and five million bicycles, annually, within 10 years.
“This legislation supports American jobs, lowers costs for domestic producers, and makes it easier to build and assemble bikes in the U.S.,” said Jenn Dice, the president and CEO of PeopleForBikes. “It’s a smart, targeted solution to a longstanding problem — how to grow U.S. bicycle manufacturing in the face of rising costs and global trade pressures.”
“This legislation will dramatically grow our domestic production footprint and provide meaningful incentives to increase the number of bicycles built in America,” added Dice. “We thank Rep. Buchanan and Rep. Thompson for their unwavering support of the bicycle industry and their innovative solutions to help create more certainty and growth for bike companies across the country.”
