in

Biden, who is considering a tariff decision, will meet soon with Chinese Xi

REHOBOTH BEACH, Del. (AP) — President Joe Biden said Saturday he plans to speak to Chinese leader Xi Jinping as soon as he considers lifting some Trump-era tariffs on Chinese goods.

Biden didn’t say when they might talk, but suggested he was getting closer to making a decision on the fate of economic sanctions.

“I’m making up my mind,” Biden told reporters in a brief exchange after a bike ride near his beach house in Delaware.

National Security and Economic Aides are completing a review of U.S. tariff policy and making recommendations to the president.

Tariffs imposed under President Donald Trump applied a 25% duty on billions of dollars worth of Chinese goods. The sanctions were aimed at reducing the US trade deficit and forcing China to adopt fairer practices.

Treasury Secretary Janet Yellen recently called for the elimination of some of these tariffs in order to fight inflation in the United States. Other members of the Biden administration, including U.S. Trade Representative Katherine Tai, have raised concerns about easing tariffs as China fails to honor its agreements on buying U.S. goods .

She said she saw tariffs as “one tool in the economic policy toolbox” that could be considered, but alongside “many other tools at our disposal.”

“What is of the utmost importance to us is ensuring that this mid-term strategic realignment that we know we need to accomplish is something that we are capable of accomplishing, and nothing that we we’re doing in the short term doesn’t compromise that larger goal,” Tai told The Associated Press in an interview last month.

Copyright © 2022 The Washington Times, LLC.


#Biden #tariff #decision #meet #Chinese

Post expires at 8:51pm on Tuesday June 28th, 2022