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US Tariff Suspension May Stimulate Demand

The US is looking to support imports by moving to suspend tariff payments as the federal and state governments look to reopen businessed and commercial activity. This move today to announce a suspension of the collection of import tariffs for three months is desgned to give U.S. companies financial relief amid the coronavirus pandemic, according to administration officials. Industry analysts have observed that U.S. Customs and Border Protection have adopted a pattern of and an established history of causing the cost of most consumer good in the US to be higher than they otherwise would be, by demanding a fee (tariff) to allow them to pass into the market. [Read more]