September 27, 2022

Biden says he’s discussing the future of China tariffs imposed by Trump

3 min read





CNN

President Joe Biden Said On tuesday His administration is currently considering how to better advance the current tariffs imposed on China during the Trump administration, but he warns that no decision has been made.

Some experts and business groups have called on Biden to get rid of the tariffs. As a way to deal with inflation.

Asked by a reporter if he would reduce tariffs imposed on China by former President Donald Trump, Biden said, “We are talking about it right now. We are seeing the most positive effect. what will happen.

When asked if he would cut or eliminate tariffs, Biden said, “I did not say that. I am telling you that we are talking about it and no decision has been made. Is.

Earlier this month, The Biden administration took the first step in that direction A four-year legal review of US tariffs on Chinese goods is under way – but officials have given no indication that the review will result in the removal of tariffs.

Biden has dropped tariffs on سامان 350 billion worth of Chinese goods imposed by his predecessor. Meanwhile, Beijing has dropped its rebate on some agricultural products and some US-made goods.

The United States and China agreed to a ceasefire in 2020, and both sides agreed not to introduce new tariffs. Beijing also agreed to increase purchases of US goods and agricultural products. But China fell short of its target, buying only 57% of US exports by the end of 2021.

The president suggested earlier this year that he drop tariffs because China has failed to meet its targets.

“I would like to be in a position where I can say that they are fulfilling their promises, or their maximum promises, and being able to carry some of it. But we are not there yet. , He said in January.

US tariffs on China affected a wide range of Chinese-made goods and duties, making imports from China more expensive for US businesses. Many of these goods are not manufactured in the United States at the pace that meets demand.

The Biden administration is under increasing pressure from the business community to raise tariffs as inflation rises. A reduction in tariffs could help reduce the inflationary pressures on importers.

In a speech Tuesday before questions about tariffs, Biden outlined his administration’s efforts to tackle inflation, which he described as “the number one challenge facing families today.”

“I want every American to know that I am taking inflation very seriously and that this is my first domestic priority,” Biden said.

He cited Russia’s invasion of Ukraine and the epidemic as two of the main drivers of the current situation, as consumers are facing 40-year high inflation and the Consumer Price Index (CPI), which is due to rise this Thursday. Will reflect

Biden’s remarks came a day after the Biden administration announced that the United States would lift a different set of tariffs set by Trump.

The United States is temporarily lifting. Ukrainian Steel in a one-year term aimed at helping Ukraine’s economy and sending a message of support as the country continues to resist Russia’s continued aggression.

This story has been updated with additional reporting.



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