Administration’s Tariff Relief Falls Short
President Donald Trump signed an executive order last weekend allowing a three-month deferral of payments of some tariffs for importers experiencing significant financial hardship due to COVID-19. U.S. Customs and Border Protection later issued details on what products and importers are eligible for the relief. Although this is a welcome reprieve to many retail businesses, it does not provide comprehensive tariff relief for U.S. companies.
The manufacturing community has been urging the administration to lift the Section 232 tariffs on steel and aluminum and the Section 301 tariffs on over $360 billion in Chinese imports in the wake of the coronavirus. The president has resisted calling a truce to the trade war, and has, at times, ramped up his language condemning China’s trade practices in support of leaving the tariffs in place. This latest action stops far short of the significant tariff relief manufacturers are seeking.
AMT members with stories of the detrimental impact of the Section 232 and Section 301 tariffs on their businesses are encouraged to contact the United States Trade Representative’s office. Alternatively, AMT can help you make that contact. Send me an email at email@example.com.