Biden Is Rethinking China Tariffs

kungpao
2022-05-29

Read the news on Barron's that Biden is rethinking China Tariffs. Is this a sign of the end of the trade war?

“We did not impose any of these tariffs; they were imposed by the last administration,” President Biden said about U.S. tariffs on China.

Donald Trump’s trade war with China, which peaked in 2018, is dead policy walking.

Tariffs he imposed on some 8,000 Chinese imports cost U.S. customers $81 billion last year, according to the Peterson Institute for International Economics.

The president showed signs of rethinking that during his just-concluded Asian tour.

Treasury Secretary Janet Yellen has been agitating to trim the tariff list to fight inflation. “Yellen is trying to distinguish between pillowcases and semiconductors,” says Gary Hufbauer, lead author of the Peterson Institute study.

Concrete action on tariffs could take a while, given these intra–White House crosswinds, says Scott Kennedy, senior adviser in Chinese economics at the Center for Strategic and International Studies. “This administration is particularly contemplative, with a lot of different voices,” he says.

Source : Barron's

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Comments

  • SG 88
    2022-05-29
    SG 88
    Keeping cheaper products available to mass US consumer would make up for any inflationary measures. let's hope the world's is not falling into deep stagflation as this would at the expense of everyone
    • kungpao: 
      Well said. Fingers crossed.
  • BriBri
    2022-05-29
    BriBri
    This will be positive…should have looked into it when he took office 🤦‍♂️
  • mothymo
    2022-05-29
    mothymo
    everything to fight inflation
  • Joker_Smile
    2022-05-29
    Joker_Smile
    say say only. wait for action first.
  • gg123gg
    2022-05-29
    gg123gg
    thank u for sharing
  • Michael8208
    2022-05-29
    Michael8208
    [Great]
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