Biden Close to Rollback of Chinese Tariffs to Fight Inflation
(Bloomberg) -- President Joe Biden may announce as soon as this week a rollback of some US tariffs on Chinese consumer goods -- as well as a new probe into industrial subsidies that could lead to more duties in strategic areas like technology.
Biden has not yet made a final decision, and the timing could slip, according to people familiar with the deliberations, who asked not to be identified without permission to discuss private conversations.
It would mark his first major policy step on trade ties between the world’s two biggest economic powers. The president in recent weeks held a number of meetings with senior economic advisers where options for a decision on the Trump-era tariffs were discussed, according to the people.
Hints that the Biden administration is considering an easing in some of the tariffs on $300 billion in Chinese imports have multiplied as inflation has accelerated, putting pressure on US officials to find ways to tamp down prices paid by consumers for everyday merchandise.
https://www.msn.com/en-us/money/other/biden-close-to-rollback-of-chinese-tariffs-to-fight-inflation/ar-AAZbQIN
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