Maine Businesses Ask for Break on Tariffs

Thirty-one Maine culinary business owners sent a letter to U.S. Sen. Susan Collins (R-ME) asking the government to suspend food-related tariffs, reports the Portland Press Herald.

“In the months leading up to the coronavirus crisis, we did everything in our power not to pass along the extra costs of these duties to consumers,” said the letter, dated April 27. “We were surviving, but at the expense of our cash flow and reserves, crushing our creditworthiness right before we would need it most. Demand for specialty food has plummeted in recent weeks, but the 25 percent additional and entirely discretionary tariff remains. Importers and distributors now have months’ worth of product, much of it perishable, in storage and in transit and no horizon for when customers might return.”

In turn, Sen. Collins and Sen. Angus King (I-ME) sent a letter, which was also signed by Sen. Kelly Loeffler (R-GA) to Treasury Secretary Steven Mnuchin requesting a temporary reprieve for companies facing tariffs. The senators urged Mnuchin to adjust the deferral process to provide relief as soon as possible. Full Story

Related: US Treasury Announces Deferment of Certain Duties, FeesAdministration Considers Postponing Tariff Payments.

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