Rep. Brady Wants to Discuss Tariff Deferral Extension With Treasury, USTR

Rep. Kevin Brady, R-Texas, would like to join with some congressional Democrats in a conversation with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer about “flexibility or time extension on the tariff relief,” he said during a conference call with reporters May 13. Brady, the ranking member of the House Ways and Means Committee, said that although tariff savings from a deferral of regular customs duties may not “seem large for individual businesses, it can be very important for them retaining their workers and riding the crisis out.”

Brady said he has heard from businesses that were not able to take advantage of the 90-day deferral because of how close the announcement came to the due date for monthly payments (see 2004200024). The interest-free deferral is for businesses with at least a 40% drop in revenue compared to the previous year.

“Many Democrats will agree privately the administration’s been remarkably accommodative,” he said, in response to a question from International Trade Today. He said it's not time to consider legislation for another round of tariff deferrals; instead, he'd prefer to start with a conversation with the Treasury. He said he has no reason to believe Mnuchin would ignore Congress's view on this. “They’ve been open to an awful lot of changes,” he said.