Brady: President Trump Helps U.S. Manufacturing with Duty Deferral

April 19, 2020 — Coronavirus Bulletin    — Press Releases   

The Woodlands, TX — The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) released the following statement after the Administration announced a 90-day deferment period on certain payments for importers who have faced a significant financial hardship due to the COVID-19 pandemic response:

“U.S. companies, including small businesses, will be better able to survive, make payroll, and retain workers over the coming weeks thanks to President Trump’s temporary duty deferral. By postponing payments of certain tariffs owed on imported goods for 90 days, President Trump is helping save American jobs. This will free up much-needed cash, allowing these businesses to pay these duties when they, as well as the economy, are on sounder footing. I’m thankful for his decisive leadership in this crisis.”

Background: Today’s action temporarily defers the liability to pay certain duties on imported goods by 90 days if a company is facing a financial hardship. Excluded from this deferral are duties imposed under antidumping or countervailing duty orders, tariffs on steel and aluminum imposed under Section 232 of the Trade Expansion Act of 1962, and tariffs imposed under Sections 201 and 301 of the Trade Act of 1974.

Want to read more on the fight against Coronavirus? Read our Coronavirus Bulletin here which contains our extensive FAQ about recent federal actions.

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