U.S. Plans to Stop Collecting Import Tariffs for Three Months, Officials Say
Source: The Wall Street Journal.
WSJ NEWS EXCLUSIVE POLITICS
U.S. Plans to Stop Collecting Import Tariffs for Three Months, Officials Say
Move aimed at helping U.S. businesses
By Alex Leary and William Mauldin
Updated March 27, 2020 7:04 pm ET
WASHINGTONThe Trump administration is preparing to suspend collection of import tariffs for three months to give U.S. companies financial relief amid the coronavirus pandemic, according to administration officials.
Customs duties will be suspended for three months, a senior administration official said Friday.
Companies would still be liable...
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The Trump administration plans to suspend the collection of import tariffs for three months, administration officials say
Link to tweet
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"... to give U.S. companies financial relief...."
But I thought China was paying the tariffs.
sheshe2
(83,669 posts)How big of them.
OAITW r.2.0
(24,331 posts)How much you wanna bet that Xi told Trump what he has to do to get China's help on the pandemic? They have their house in order, why would they do Trump's USA any benefit without concessions?
ret5hd
(20,483 posts)U.S. companies are paying those tariffs??? What??? I thought the Chinese were going to pay!!!
BlueIdaho
(13,582 posts)Havent you heard?
Under The Radar
(3,401 posts)For example; for all the goods that Walmart buys from China, get shipped to the US where Customs officers hold the containers until Walmart wires the money to US Customs; the container is then released to be delivered to the Walmart destination. WALMART has to pay the 25% fee on the total invoice amount if that containers goods. Of corse Walmart increases their prices to their customers to accommodate that fee.
Trump does not understand even today. It makes no sense but he still doesnt understand that.
mahatmakanejeeves
(57,319 posts)Sloumeau
(2,657 posts)Was Trump.....lying??????
Under The Radar
(3,401 posts)2) he is too stupid to know the truth himself.
Either way, he cant escape the stupid
FormerOstrich
(2,699 posts)during the Thursday presser. He said it was fake news, no one had talked to him about it. He said that 3 or 4 times. Then he said some incoherent something about the Chinese paying interest. Uhhh? It was weird. I had been wondering if the would lift these for us....
mahatmakanejeeves
(57,319 posts)In Thursday's episode, he boasted about all the money China was sending to the US:
Remarks by Trump, Pence, and Members of the Coronavirus Task Force in Press Briefing, 03-26-20
THE PRESIDENT: No. Please.
Q Mr. President, thank you.
Q I have two questions for you.
THE PRESIDENT: Yeah. I didnt call you, I called this gentleman.
Q Mr. President, thank you. Thanks a lot. On Monday
THE PRESIDENT: Who are you with?
Q did you speak with
THE PRESIDENT: Who are you with?
Q Im with Bloomberg.
THE PRESIDENT: Yeah. Bloomberg News.
Q Mario Parker.
THE PRESIDENT: Hows Michael doing? Good?
Q (Laughs.) Mr. President, on Monday, did you speak with Chinese President Xi before you urged Americans to not blame Asian Americans for the coronavirus? We noticed that youve backed off of that language. I know youre speaking with him again tonight.
THE PRESIDENT: No, I didnt. Im speaking to him tonight. Its scheduled to go tonight. Ill have a call with President Xi of China. I have a very good relationship.
No, I didnt like when they came up. And it it wasnt him. Somebody at a lower level mid-level we found out, pretty much. But they made a statement that our soldiers brought it into China. No, it came from China.
And, you know, we just signed a very big deal with China. Theyre paying us a lot of money in tariffs and other things. They never paid us 10 cents.
Look, China has taken advantage of the United States until I came here with Sleepy Joe Biden and Obama and Bush and everybody else. Im not blaming them; Im blaming everybody. They were allowed to $500 billion a year they were taking out. We had trade deficits that were so large nobodys ever seen anything like it.
And weve changed it. Look, now were taking in billions of dollars. And we gave some to our farmers because China, you know, they targeted our farmers. And our farmers are very happy and our farmers got through a very rough period because of what I was able to do took the money from China and gave it to the farmers and we had plenty left over after that.
Now were going into a phase two negotiation with China. But were getting 25 percent on $250 billion and then were getting a lot on money after that.
So weve never had a deal with China. They China took advantage of the United States. And you know what? I dont blame China for that. I blame the people that were right here because they should have never allowed it to happen. But the relationship with China has been a very good one.
He was asked about the article in The Wall Street Journal. during Friday's episode:
Remarks by Trump, Pence, and Members of the Coronavirus Task Force in Press Briefing, 03-27-20
THE PRESIDENT: Its not even talked to me about. Its just more fake news, John.
Look, not even talked to me. Theyre talking about the only one Ive heard that from like, as an example, China pays 25 percent interest on $250 billion worth of product that they send in. Thats a lot. Everybody keeps saying, Oh, are you going to suspend the tariffs? Well, the answer is no. But President Xi never even brought it up last night. It wasnt even discussed. Its fake news. Tell the Wall Street Journal. You know, the Wall Street Journal does a lot of fake news too. Its pretty amazing.
So I want to leave leave you by just saying I want to thank you for being here. I want to thank the American public and all of the people that have helped so much. And were going to give the podium to Vice President Pence, who has been incredible. And if hes tired and if hes not answering questions like he should, we have a great reason because he hasnt slept in about four weeks.
But I want to thank him because he has dedicated I mean, he is a dedicated person long before this. But the job hes done has been fantastic. So I want to thank Mike, all the people on the task force, and FEMA, and Army Corps everybody. Youve been fantastic. Thank you all very much.
jeffreyi
(1,938 posts)Unreal.
FormerOstrich
(2,699 posts)I thought I listened on Thursday but it was Friday's exchange. Yes, that 25% interest. Good Grief.
Thanks for posting the exchange....real time was head-exploding stupid.
Yeehah
(4,568 posts)I thought the tariffs were the greatest thing possible for our economy????
mahatmakanejeeves
(57,319 posts){sarcasm}