With the COVID-19 situation expected to extract a heavy toll on the U.S. economy, a group of Senate Finance Committee Republicans are calling on President Donald Trump to take several actions on the trade front, including tariff waivers on medical products and broadening the tariff exemptions.
“One area where you have immediate tools at your disposal to decrease the economic harm from COVID-19 is trade policy,” said the lawmakers in the letter spearheaded by Senate Finance Committee Chairman Chuck Grassley, R-Iowa. They noted that one area where there are “immediate tools” to “decrease the economic harm from COVID-19 is trade policy.”
The lawmakers called on Trump to work with other countries to limit or remove trade restrictions on medical products needed in the COVID-19 fight. Lawmakers want the president to consider tariff relief on medical devices, to provide a temporary deferral for companies on duty collections, extending expanding tariff relief on Section 301 tariffs and to not take any new measures that “would create uncertainty or undue difficulty for American workers, families, farmers, ranchers, and businesses, and asking our global trading partners to do the same.”
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