Free-Trade Coalition Including Tech Urges Trump to Defer Duty Payments
The Americans for Free Trade coalition wants the Trump administration to defer due dates for all federal duties and import fees payable through June, it wrote the White House and members of Congress Tuesday. Doing so would “immediately free up…
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billions of dollars of working capital for American companies,” it said. “This cash is even more important for companies that have had to close their doors because of stay-at-home orders, leaving them with little to no revenue to make ends meet. Companies facing urgent liquidity issues need their duty payments deferred in order to succeed when the economy reopens.” More than 470 companies signed the letter, including Audio Control, Fossil, GameStop, JL Audio, Jasco Products and Voxx. CTA was among seven tech groups also signing, including ACT|The App Association and CompTIA. The White House didn’t comment.