Biden leaning toward easing some China tariffs: Axios
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Biden says in an Oval Office meeting that he's leaning toward removing some Trump-era China tariffs.
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No decision has been made yet, but a potential announcement on the matter is expected this month. (Axios)
In an Oval Office meeting that took place last week with members of his Cabinet, US President Joe Biden pointed out that he's leaning toward removing some Trump-era China tariffs, according to Axios.
The tariffs were still in place during Biden's term, but the need to remove them is driven by inflation, which is currently running at a 40-year high of 8.6%, and the need to bring down prices, despite the possibility of him looking weak on China.
The tariffs now cover close to $350 billion of goods imported from China. With inflation eating into US purchasing power, Biden can remove these tariffs to relieve consumers. By doing so, however, he also risks aggravating the labor movement, as labor representatives have warned the White House against relaxing any of the tariffs.
A White House spokesperson said "no decision has been made" on the matter, adding that Biden and his team are in discussions to ensure that the tariffs are aligned with US economic and strategic priorities, "such as safeguarding the interests of workers and critical industries, advancing our national security, and not unnecessarily raising costs on Americans."
According to White House National Security Advisor Jake Sullivan, Biden is actively considering a variety of options to ease US trade tariffs imposed on China in order to help alleviate US inflation.
"We have said from the beginning, some of Trump’s tariffs were irresponsible and do not advance economic or national security. We are discussing this and working to align these tariffs," White House spokesperson Karine Jean-Pierre said when asked to confirm media reports that the White House is leaning toward removing some of the tariffs on Chinese goods.
