Consumers Win: MSCI Effort To Repeal Costly Labeling Regulation Successful
Congress passed a final fiscal year 2016 spending package last week that repeals a regulation mandating country of origin labeling (COOL). As The Hill noted, the World Trade Organization (WTO) had ruled this fall that the Canadian and Mexican governments could impose sanctions on more than $1 billion in U.S. products if the labeling requirements were kept in place. (Canada and Mexico were to formally ask for the sanctions at a WTO meeting last Friday.)
These sanctions would have significantly increased the prices that U.S. consumers pay for everyday products, including food.
The Metals Service Center Institute is part of the COOL Reform Coalition, which supported repealing the regulations. Earlier this month, the coalition argued, “[W]e have run out of time on this issue. Retaliation could start within days, posing a very real threat to our economy and thousands of American jobs. Unless Congress acts now, companies that export to our two largest trading partners are in jeopardy of losing significant market share that will be difficult to regain. We urge Congress to act now to bring the U.S. into compliance and end this impending negative economic blow to the U.S. economy.”
MSCI is pleased that Congress responded to its call and that President Barack Obama will soon sign COOL repeal.