US considering ending some tariffs against China to combat inflation

US considering ending some tariffs against China to combat inflation

US considering ending some tariffs against China to combat inflation

US Commerce Secretary Gina Raimondo. (Credits: Google)

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  • The Biden administration is considering removing some Trump-era tariffs on Chinese imports.
  • This is to contain domestic inflation, according to local media and US Commerce Secretary Gina Raimondo.
  • Lifting duties on things like household goods and bicycles “may make sense,” she told reporters.
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The Biden administration is considering removing some Trump-era tariffs on Chinese imports in order to contain domestic inflation, according to local media, US Commerce Secretary Gina Raimondo.

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As per the Chinese-language newspaper Lianhe Zaobao, US President Joe Biden has requested Raimondo and other government officials to look into possible plans to reduce some of the Trump administration’s tariffs on Chinese goods.
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To preserve the domestic steel industry, the current administration has decided to maintain tariffs on steel and aluminium, Raimondo said, but she added that lifting duties on things like household goods and bicycles “may make sense.”

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Inflation is Biden’s top economic goal, despite the fact that Americans are suffering from rising consumer prices.
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