Biden evaluating existing China tariffs imposed by Trump
P
resident Joe Biden on Tuesday said that he is discussing the future of China tariffs imposed by the Trump administration cautioning that no decision has been made.
Some experts and business groups have called on Biden to get rid of the tariffs as a way to combat inflation, reported CNN.
Asked by a reporter if he would drop the tariffs on China imposed by former President Donald Trump, Biden said, "We're discussing that right now. We're looking at what would have the most positive impact."
When pressed whether he would lower or erase the tariffs, Biden said, "I didn't say that. ... I'm telling you we're discussing it and no decision has been made on it."
Biden's remarks come a day after the Biden administration announced the US will lift a different set of Trump-instituted tariffs, reported CNN.
The US is temporarily lifting Ukrainian steel for a period of one year in a move aimed at helping the Ukrainian economy and sending a message of support as the country continues to resist Russia's ongoing invasion.
Earlier this month, the Biden administration took a first step toward conducting a statutory four-year review of the US tariffs on Chinese goods -- but officials have given no indication that the review will result in removing the tariffs, reported CNN.
The Biden administration eased some Trump-era tariffs on Chinese imports in March. But Biden has left tariffs in place on USD 350 billion of Chinese goods that were imposed by his predecessor. And Beijing, meanwhile, has left its retaliatory tariffs on some agricultural products and some American-made goods.
The US and China reached a truce in 2020, with both sides agreeing not to add new tariffs. Beijing also agreed to increase its purchases of US goods and agricultural products. But China fell well short of its goal, buying only 57 per cent of the US exports it had committed to purchase by the end of 2021.
White House press secretary Jen Psaki confirmed later Tuesday that Biden is evaluating whether to ease additional sanctions against China, saying that she expects the administration will have more to say in the coming weeks, reported CNN.
She said during the White House press briefing that there continues to be "an ongoing review" of US tariffs on China and "we expect to do more."
"He's weighing new ones, yes, because it's an ongoing process and there are more that are still in place," Psaki said.
"We are continuing to review where it would be advantageous to take steps that would help ... increase wages and help certain industries that are impacted by these tariffs in a way that we don't feel is effective," she continued.
The President suggested earlier this year that he was leaving the tariffs in place because China had failed to meet its targets, reported CNN.
"I'd like to be able to be in a position where I can say they're meeting the commitments, or more of their commitments, and be able to lift some of it. But we're not there yet," he said in January.
The US tariffs on China hit a wide range of Chinese-made goods and duties, making it more expensive for American businesses to import these goods from China. Many of these goods are not manufactured in the US at a pace that meets demand, reported CNN.
✔️ Biden evaluating existing China tariffs imposed by Trump
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