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White House Considers Postponing Tariffs to Help Businesses: Live Updates

Trump weighs postponing tariff payments to help businesses.

The Trump administration is considering postponing tariff payments on some imported goods for 90 days, according to people familiar with the matter, as it looks to ease the burden on businesses hurt by the coronavirus pandemic.

Some businesses and trade groups have argued that the levies President Trump imposed on foreign metals and products from China before the outbreak continue to raise their costs and weigh on their profits as the economy is slowing sharply. But even after the global pandemic hit the United States, Mr. Trump and his advisers have denied that cutting tariffs would be one of the measures they would undertake to buoy the economy.

The White House now appears to be considering a proposal that would defer tariff duties for three months for importers, though it would not cancel them outright. The administrationís consideration of a deferral was reported earlier by Bloomberg News.

It is not clear which tariffs the deferral might apply to, or if the idea will ultimately be approved. But the proposal appears to be separate from a plan announced on Friday by the U.S. Customs and Border Protection that it would approve delayed payment of duties, taxes and fees on a case-by-case basis.