The Biden administration may lift China tariffs, in order to reduce inflation

• Commerce Secretary Gina Raimondo confirmed the prospective move.
• Inflation in the United States reached a 40-year high in March.
• It comes as the Biden administration scrambles for inflation cures.

President Joe Biden government is contemplating lowering tariffs on Chinese imports in order to battle the country’s record-high inflation.

On Sunday, Commerce Secretary Gina Raimondo confirmed the prospective move. He said Biden had personally requested her staff to investigate the matter. Inflation in the United States reached a 40-year high in March and is anticipated to rise further in the following months.

Tariffs imposed by former President Donald Trump harm household products that may be purchased more cheaply in China. Previously, Raimondo welcomed some of Trump’s tariffs on China as “quite successful.”

We’re looking into it. In fact, the president has requested his team to investigate this. So we’re in the process of doing that for him, and he’ll have to make that decision himself “When questioned about the topic, Raimondo said CNN in an interview.

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The probable move comes as the Biden administration scrambles for inflation cures. Last week, Biden unveiled a three-point strategy to battle inflation, but even members of his own party blasted it as inadequate.

“I applaud the president’s efforts,” Rep. Ro Khanna, D-Calif., wrote on Thursday. “To handle the situation, Mr. Biden should form an emergency task team with the authority to decrease prices and manage shortages.

As I previously stated, there have been unexpected and huge shocks to the economy that have risen energy and food costs, as well as supply bottlenecks that have negatively impacted our economy, which I did not comprehend at the time.”

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