It was stated that after China's exercises around Taiwan, the Biden administration reconsidered the issue of removing some tariffs against China.
Speaking to Bloomberg, officials said that USA President Joe Biden has not made a decision on the issue.
For months, the Biden administration has sought ways to ease the costs of tariffs on Chinese imports as it tries to curb rapidly rising inflation.
Management is considering removing some tariffs, launching a new "Chapter 301" investigation into potential areas for additional tariffs, and expanding the list of tariff exemptions to help US companies that can only buy certain supplies from China.
The tariffs made Chinese imports more costly for the USA companies, which in turn made products more expensive for consumers. This situation had become an important goal for Biden to reduce inflation before the November midterm elections.
But Beijing's reaction to the visit of Nancy Pelosi, Speaker of the US House of Representatives, to Taiwan last week prompted officials to rethink the issue.
Comments
No comment yet.