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Biden could lift tariffs on Chinese goods: Report

BY ANI, Jul 5, 2022 6:42 PM - REPORT AN ERROR

US President Joe Biden (Photo : ANI)

US President Joe Biden can lift the tariff on some Chinese imports in an effort to slow down the soaring rates of inflation.

The Biden administration is wrapping up a mandatory review of tariffs on Chinese imports, which were earlier imposed by former President Donald Trump, The New York Post reported. American businesses and labour unions that have favoured keeping the tariffs in place will have to give their comment by Tuesday before the administration announces a final decision on this.

Biden has repeatedly postponed plans to cut tariffs due to policy disagreements among his own senior aides and Cabinet secretaries, The New York Post reported citing the Wall Street Journal. Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo are reportedly in favour of reducing tariffs because they view them as ineffectual in addressing alleged trade practices by Beijing. While the US Trade Representative Katherine Tai and national security adviser Jake Sullivan were in favour of keeping the tariffs in place as a tool to exercise leverage over China.

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