The Trump Administration is considering postponing tariff payments on some imported goods for 90 days, reports The New York Times. This would be in an effort to ease the burden on businesses that have been hurt by the coronavirus outbreak.
Trade groups such as the U.S. Chamber of Commerce, the National Association of Manufacturers, and the U.S.-China Business Council have asked the administration to reduce tariffs permanently as part of its emergency economic response. In addition, in a letter to the president, republican members of the Senate Finance Committee asked him to defer the collection of duties in a letter and issue a “total moratorium on new tariffs or tariff increases for the time being.”
It has not been revealed which tariffs the postponement would apply to, or if it would even be ultimately approved. White House officials have publicly denied the proposal, according to the report. Full Story
Related: US Increases Tariffs on European Aircraft; China Will Halve Tariffs on US Goods.
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