President Donald Trump will enable sure companies to defer some tariff funds by three months, three sources advised CNBC on Tuesday.

The president may announce the 90-day delay in tariff funds later Tuesday, one supply stated.

The tariff deferral will come amid the coronavirus pandemic, which has upended international commerce and floor the U.S. economic system to a halt.

It was not instantly clear which funds can be included within the deferral.

Sources stated that the reduction will doubtless be utilized to "most favored nation" tariffs below the World Commerce Group.

Protectionist voices outdoors the White Home have been pushing to exclude sure tariffs from the delay, together with these below Part 232 of the Commerce Enlargement Act, which authorizes import duties on nationwide safety grounds.

These individuals additionally need an exclusion for tariffs imposed below Part 301 of the Commerce Act, which the U.S. used to slap import taxes on China.

That is breaking information. Please test again for updates.