Tariff relief all but off the table
Story Date: 3/19/2020

 

Source: POLITICO' S MORNING AGRICULTURE, 3/18/20

Senate Republicans are moving at warp-speed (for the Senate, at least) to design a massive economic stimulus package that could bring the taxpayer price tag to more than $1 trillion. But hopes are fading that the federal coronavirus response will include easing duties on imports, our Pro Trade friends tell MA.

— Lawmakers in both parties have discussed the idea, and some members see it as a logical plank in the stimulus package — but Capitol Hill aides said tariff relief would most likely be limited to imports specifically needed to manage the crisis.
Businesses not backing down: A coalition of over 150 retailers, manufacturers and other business groups hit hard by the tariffs and foreign retaliation sent a letter to President Donald Trump urging him to take "swift action on a policy that would provide tax relief to millions of American farmers, manufacturers, families, and consumers without having to wait on action from Congress."

— "We keep hearing everything is on the table," said Jonathan Gold, a vice president at the National Retail Federation and a spokesperson for Americans for Free Trade. Some administration officials like White House trade adviser Peter Navarro are clearly opposed to tariff relief, but others like Treasury Secretary Steven Mnuchin think it "should be part of the conversation," Gold said.

What restaurants want: Trump spoke with restaurant executives by phone Tuesday morning, as the National Restaurant Association continues pushing for the industry's own relief provisions, per POLITICO Influence. "There isn't a set dollar amount yet because consequences continue to cascade and it is too early to see when the bleeding will stop," said a person familiar with the discussions.

























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