To Fight Inflation, Biden Considers Cutting Trump Tariffs on China – By Yuval Rosenberg (The Fiscal Times) / May 23, 2022
President Joe Biden said Monday that he is considering cutting Trump-era tariffs on Chinese goods as a measure to combat inflation.
“I am considering it. We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration,” Biden said at a news conference in Tokyo with Japanese Prime Minister Fumio Kishida.
Biden’s comment comes as administration officials and White House advisers are reportedly engaged in heated debate over whether to cut the tariffs of up to 25% imposed by former President Donald Trump on hundreds of billions of dollars in goods imported from China annually.
Treasury Secretary Janet Yellen last week criticized the tariffs, saying that some of them “seem as though they impose more harm on consumers and businesses” and adding that they “aren’t very strategic in the sense of addressing real issues we have with China — whether it concerns supply chain vulnerabilities, national security issues, or other unfair trade practices.” Biden said Monday he would discuss the issue with Yellen when he returns from Asia.
