Ways and Means Chairman Neal Says Another Round of Tariff Deferral 'Sensible'
House Ways and Means Committee Chairman Richard Neal, D-Mass., said he's told U.S. Trade Representative Robert Lighthizer that he's concerned that some businesses were not able to take advantage of a 90-day deferral to pay duties. “Because of the economic circumstances we find ourselves in, I think providing some relief on that front is sensible,” he said to International Trade Today in a brief hallway interview at the Capitol May 15.
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The top Republican on the committee previously said he wanted to speak to Lighthizer and the Treasury secretary about renewing the deferral (see 2005130028). Companies that had gross receipts in March or April that were at least 40% below last year's levels were eligible for the interest-free deferral, which only applied to regular tariffs (see 2004200024).
The April 19 executive order said the president could authorize the Treasury secretary to extend the time to pay duties throughout the national state of emergency, but it limited the deferral to entries in March and April. The announcement came two days before the typical monthly settle date for importers. When asked if he thinks Lighthizer is open to another round of deferrals, Neal said: “He tends to be open to what I think.”