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Apr 02, 2020
In a move to support businesses struggling with the impact of the Coronavirus pandemic, President Donald Trump is considering an executive order that would grant a temporary 90-day grace period to companies paying tariffs, according to Politico.
However, the article states that the action would not defer payments of Section 301 tariffs, which apply to Chinese goods, or the Section 232 tariffs covering imports of steel and aluminum.
ASA continues urging the Administration and Congress to suspend all tariffs as they consider measures to stimulate the U.S. economy in response to the COVID-19 pandemic. Last week, as part of the Farmers for Free Trade (FFT) coalition, ASA signed a letter to House and Senate leadership, as well as the Secretary of the Treasury, asking U.S. leaders to suspend all 232 and 301 tariffs, calling it a “significant step” that can be taken immediately to help businesses and families impacted by the recent economic disruptions. The groups also urged requests to trading partners to do the same to stimulate global markets and boost the down economy.
