Biden to meet advisers on China tariffs, timing of decision unclear: sources

By David Lawder and Andrea Shalal

WASHINGTON (Reuters) – President Joe Biden was due to discuss tariffs on Chinese imports with advisers on Friday, but it was unclear when he would make a decision on whether to scrap some tariffs to try to fight inflation, two people familiar with the deliberations said. .

The White House meeting is one of several in recent weeks as Biden struggles to balance competing desires to use every possible lever to ease inflation and keep up the pressure on China to try to win concessions on government-driven economic policies. Beijing state.

The discussions revolve around “Section 301” tariffs imposed by then-President Donald Trump in 2018 and 2019 on some $370 billion worth of Chinese imports over China’s alleged theft of American intellectual property.

Some in the administration, including Treasury Secretary Janet Yellen, have argued that many of these duties are “non-strategic” and increase costs for American consumers and businesses. US Trade Representative Katherine Tai said the tariffs are “an important piece of leverage” in the US-China trade relationship.

Other sources close to the process have said Biden is taking his time to work through the complex web of options and consequences, including removing a substantial number of tariffs and removing them from a more limited list of Chinese-made consumer products.

The White House is also considering an expanded process to approve product-specific exclusions from the tariffs and whether to combine any action with a new Section 301 investigation into China’s state subsidies and plans to dominate high-tech industries, officials said. sources.

The White House had no immediate comment on the tariff discussions.

Over 400 requests from industry and labor groups .pdf have requested that the US Trade Representative’s office uphold China’s tariffs, signaling that Biden could face a backlash if he chooses a substantial tariff reduction.

(Reporting by David Lawder; editing by Jonathan Oatis)

Source link

Leave a Reply

Your email address will not be published.