It’s misguided, and it comes at the wrong time.
Late on Sunday evening, when it hoped no one would be paying attention, the Trump administration announced a 90-day deferment of tariff payments and other fees paid by importers.
The move is being pitched as relief for those importers that have faced financial hardship due to the coronavirus pandemic response. but let’s be clear: This is special treatment for importers, and it means trouble for American workers and manufacturers who are currently stepping up for their nation in a time of crisis — or facing widespread layoffs, furloughs, and closures.
It’s a bad idea. Manufacturing is typically slower to rebound during economic downturns than other sectors, and this White House move isn’t going to help anything. Adding more imports to an already fragile domestic manufacturing economy is ill-timed and unwise.
The Alliance for American Manufacturing hopes the Trump administration rethinks this plan immediately so loopholes aren’t exploited, it’s made clear that this action is temporary, and limited in time and scope, and that accumulated debts will be collected.
Here’s what needs to happen …