White House Express Possibility to Lower Tariffs on Communist China to Combat Inflation

White House press secretary Jen Psaki said on Monday (April 25) that in view of the soaring consumer prices, the Biden administration is carefully studying the impact of former president Donald Trump’s tariff policy on Communist China on US inflation.
Psaki stressed that she received no confirmed information on tariff reductions since the US Trade Representative Katherine Tai is still reviewing Trump-era tariffs on Chinese goods. The review includes multiple subjects, such as Communist China’s behavior in global markets and the impact of tariffs on American workers’ wage, job opportunities and competitive edge. But Psaki made clear that soaring inflation is a major factor in the deliberations.
Daleep Singh, deputy national security adviser in charge of economic affairs, said on April 21 that the United States may reduce tariffs on Communist China’s non-strategic products to help combat inflation, such as bicycles or apparel. He believes that the tariff imposed by the former president Trump on Chinese products has created negotiating leverage for Washington, but the tariff itself has no strategic significance. And the CCP has also implemented similar retaliatory measures against the US.
In addition, US Treasury Secretary Janet Yellen also said earlier that she wants to cut tariffs on Chinese products. She believes this measure can help to ease inflation in America.

Picture of Aussie Brief News

Aussie Brief News

Go to First Page and Get the Latest News.

Translator: MOS Media Team – CloudSky
Design&editor: Hbamboo

Leave a Reply

Your email address will not be published. Required fields are marked *