"Trump Administration Considering 90-Day Tariff Suspension?"

[Asia Economy Reporter Naju-seok] The U.S. government is reportedly considering a plan to suspend tariffs for 90 days in light of the economic difficulties caused by the novel coronavirus disease (COVID-19), according to the New York Times on the 25th.

Businesses and trade organizations within the U.S. argue that the tariffs imposed by President Donald Trump on foreign metals and Chinese products have further worsened the economic situation. There is also resistance within the White House regarding this issue. U.S. government officials have stated that President Trump has not brought tariff suspensions or similar measures to the discussion table.

On the other hand, voices from the U.S. Democratic Party and others are calling for such measures. Democratic Senator Dianne Feinstein argued, "At a time when Congress has reduced the tax burden on companies in response to the crisis, the U.S. Treasury Department should also suspend tariffs until companies can overcome the crisis."

However, concerns have been raised that tariff suspension measures could place American industries in an even more difficult environment.

Organizations such as the American Iron and Steel Institute expressed concern, stating, "Tariff suspension measures could deliver a fatal blow to domestic manufacturing in the United States."

This content was produced with the assistance of AI translation services.