Washington, D.C. – On Sunday, the Trump administration announced the decision to authorize a 90-day deferment of tariff payments and other fees by importers, even though President Trump had previously denied he would approve such a move.
In a new white paper, the Alliance for American Manufacturing outlines how the decision will likely harm American workers and manufacturers, and is especially troublesome given the manufacturing economy already is facing significant plant closures, layoffs and furloughs.
Here's an excerpt:
"This special treatment for importers is likely to adversely impact American workers and manufacturers who are stepping up for their nation in a time of crisis, or facing widespread layoffs, furloughs, and closures. Manufacturing has been slower to rebound during previous economic downturns than other sectors, and this administrative action will likely slow the sector’s recovery this time as well. Adding more imports to an already fragile domestic manufacturing economy is ill-timed and unwise.
It is our hope that the Trump administration will significantly alter this plan, without delay, to ensure that loopholes are not exploited and to clearly communicate that this action is temporary and strictly limited in time and scope. The administration must make clear that accumulated debts will be collected and that there will not be unjustified gifts granted to importers."
Click here to read the document. AAM President Scott Paul is available for interviews on this topic.