New legislation aims to suspend tariffs and promote bicycle production in the US

As popular as cycling is in many parts of the United States, bicycle manufacturing is not.

According to StatistaIn 2022, the U.S. imported over $2.2 billion worth of bicycles, but by comparison, exported only $171 million worth of bicycles. The majority of imported bicycles in the U.S. come from China.

Introduce a 10-year suspension of tariffs on imported bicycle components such as frames, rims, hubs, saddles, pedals, etc. The hope is that this would incentivize bicycle assembly in the US.
Creating a tax credit for e-bike production to encourage e-bike manufacturers to build their products in the United States.
Offer bicycle manufacturers low-interest loans with a term of 12 years for the purchase of capital goods to be used in the construction of bicycles.

For the Domestic Bicycle Product Act, Blumenauer was inspired by the “renaissance of bicycle manufacturing” in Europe. In 2022, a total of 14.7 million bicycles were produced in the EU, an increase of 10% from 2021 and 29% from the previous decade. Blumenauer believes these results were largely achieved through a combination of “strong trade policies and investments in manufacturing facilities.”

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