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April 6, 2020

The Debate For And Against Relief From U.S. Tariffs

According to several news sources, President Donald Trump is considering a plan to offer companies a 90-day grace period for payment of most-favored nation tariffs. (The action reportedly would not provide relief from the Trump administration’s duties on Chinese goods or his Section 232 steel and aluminum tariffs.)

According to Politico, Sen. Sherrod Brown (D-Ohio) and the United Steelworkers have asked that President Donald Trump refrain from providing tariff relief. The senator argued that duty deferral would make it harder for American manufacturers to produce personal protective equipment and other necessary medical supplies.

The U.S. Chamber of Commerce took the opposite position last week. Myron Brilliant, the U.S. Chamber of Commerce’s executive vice president and head of international affairs, argued some tariff relief would help businesses currently strapped for cash during the coronavirus outbreak. Brilliant said, “There’s never a bad time to embrace good policy, and tariff relief would provide some welcome breathing room for American businesses and consumers.” The U.S. Chamber is also urging USTR to extend all the exclusions to the Section 301 tariffs that are scheduled to lapse in the next few months, he added.

Click here to read Politico’s full story.

MSCI is providing this information to its members for their awareness only.