Deferring Duties Payments Provides Retailers Cash Flow

Brian Dodge, president of the Retail Industry Leaders Association, issued the following statement following the President’s announcement deferring some tariff payments for 90-days:

“Allowing companies hit hardest by COVID-19 to defer certain duty payments for up to 90-days will improve liquidity and cash flow for those retailers who have closed stores during this crisis. As stores are closed and foot traffic has plummeted, retailers are taking extraordinary steps to keep their businesses running. This move will put these retailers in a stronger position to return to normal business operations as soon as it is safe to do so.

“While the deferral of select duty payments is helpful and warranted, the deferral of all duty payments for at least 180-days would do even more to assist retailers as they navigate this unprecedented pandemic. Millions of jobs are on the line, and we urge the Administration to consider further duty relief to help retailers put workers back on the payroll when this crisis abates.” 

###

RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.

RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.

Tags
  • International Trade
  • Public Policy
  • Supply Chain

Stay in the know

Subscribe to our newsletter