American president signs manufacturing bill

U.S. President Barack Obama has signed a bill meant to reduce costs for U.S. manufacturers and help them recover from the shaky U.S. economy.

The law is expected to reduce and suspend tariffs on certain materials that U.S. companies must import to manufacture their products. Obama signed the bill into law in a ceremony at the White House on Wednesday, August 11.

The National Association of Manufacturers expects that the new law will help create jobs, cut costs for businesses and consumers, and boost U.S. exports.