{"id":458762,"date":"2022-06-06T21:01:02","date_gmt":"2022-06-06T18:01:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-slammed-for-pushing-to-lift-tariffs-on-china\/"},"modified":"2022-06-06T21:01:02","modified_gmt":"2022-06-06T18:01:02","slug":"biden-slammed-for-pushing-to-lift-tariffs-on-china","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-slammed-for-pushing-to-lift-tariffs-on-china\/","title":{"rendered":"#Biden slammed for pushing to lift tariffs on China"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36543392dd2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36543392dd2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-slammed-for-pushing-to-lift-tariffs-on-china\/#%E2%80%9CBiden_slammed_for_pushing_to_lift_tariffs_on_China%E2%80%9D\" >&#8220;Biden slammed for pushing to lift tariffs on China&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBiden_slammed_for_pushing_to_lift_tariffs_on_China%E2%80%9D\"><\/span>&#8220;Biden slammed for pushing to lift tariffs on China&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>President Biden\u2019s plan to lift tariffs on China will do little to ease record levels of inflation while giving Beijing the upper hand in its trade relationship with the United States, according to analysts.<\/p>\n<p>Commerce Secretary Gina Raimondo said Sunday that Biden has asked his team to look at the option of lifting some tariffs on China \u2014 put in place by former President Donald Trump \u2014 as inflation hovers at four-decade highs.<\/p>\n<p>But experts say the stopgap measure is short-sighted and will have long-term implications.<\/p>\n<p>\u201cThe amount of negative impact this will have will last decades if not forever turn the tide of competition with China in favor of China,\u201d Bob Bilbruck, CEO at consulting firm Captjur, told The Post.<\/p>\n<p>\u201cWhat Biden is suggesting by overturning the tariffs to help with inflation is just plain wrong.\u201d<\/p>\n<p>When he came into office, Biden reversed some of the hundreds of billions in tariffs levied by the Trump administration \u2014 targeting steel and aluminum, and later expanded to include consumer goods like clothing and sporting supplies \u2014 against the Communist regime.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-65.jpg?w=1024\" alt=\"The Biden administration hopes lifting tariffs will help ease record levels of inflation.\" class=\"wp-image-22548403\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-65.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-65.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-65.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Biden administration hopes lifting tariffs will help ease record levels of inflation.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Now he has asked Raimondo to look into easing more restrictions as inflation threatens to unclamp the Democrats\u2019 grip on both chambers of Congress in the looming midterm elections.<\/p>\n<p>\u201cThere are other products \u2014 household goods, bicycles, etc. \u2014 and it may make sense\u201d to weigh lifting tariffs on those, Raimondo told CNN in an interview Sunday, adding the administration had decided to keep some of the tariffs on steel and aluminum to protect US workers and the steel industry.<\/p>\n<p>Bilbruck said lifting tariffs would most likely be a unilateral move without any Chinese reciprocation.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gina-raimondo-57.jpg?w=1024\" alt=\"Commerce Secretary Gina Raimondo told CNN over the weekend that the administration was looking into lifting tariffs on China.\" class=\"wp-image-22548406\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gina-raimondo-57.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gina-raimondo-57.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/gina-raimondo-57.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Commerce Secretary Gina Raimondo told CNN over the weekend that the administration was looking into lifting tariffs on China.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cIt\u2019s not going to help with the highest inflation areas like gas and food and there is no guarantee the Chinese are going to lower prices on goods they produce and export to us just because we have lowered the tariffs on these products,\u201d he told The Post.<\/p>\n<p>\u201cThey may just keep prices the same and take the money that was going into tariffs and add it back as margin and cushion their bottom line.\u201d<\/p>\n<p>He said Trump\u2019s tariffs \u201chad been keeping China in check\u201d and that lifting them \u201cwill allow China (to gain) back full control of the import and export market, thus strengthening their country and weakening the US further in this area.\u201d<\/p>\n<p>Bilbruck added: \u201cI would argue we should pass a bill that strengthens manufacturing in the US and bring many of these goods back home to be produced.\u201d <\/p>\n<p>\u201cThis would be much better money spent instead of the bloated, idealistic Green New Deal.\u201d<\/p>\n<p>Salvatore J. Stile, who heads customs brokerage firm Alba Wheels Up International, told The Post that it\u2019s too soon to determine whether Biden\u2019s plan will be a success.<\/p>\n<p>\u201cRemoving tariffs on imported Chinese goods could have a net-positive impact on the consumer, should the importers pass along the savings to the consumers through reduction of prices,\u201d Stile told The Post.<\/p>\n<p>\u201cHowever, many of these importers have likely been operating at a loss or low profit margin, due to high freight rates, shortages, increased labor costs, and gas, so widespread price reduction is far from a guarantee.\u201d<\/p>\n<p>Stile added: \u201cThe Chinese may counterbalance these savings. While there may be an influx in purchasing from China following the tariff\u2019s repeal, it is very possible that the Chinese factories rescind some of the discounts they provided when the tariffs were initiated, raising product prices.\u201d<\/p>\n<p>\u201cSo, it could be at the end of the day a zero-sum gain, only benefiting the Chinese factories once again.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-64.jpg?w=1024\" alt=\"Soaring levels of inflation have forced Americans to pay more for key goods like food and gas.\" class=\"wp-image-22548402\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-64.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-64.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/inflation-64.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Soaring levels of inflation have forced Americans to pay more for key goods like food and gas.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Inflation, which hit 8.3% in April, is at the top of Americans\u2019 minds.\u00a0Eighty percent say inflation is an important factor in how they\u2019ll vote in November, while 74% say gas prices, which are nearing $5 a gallon, is key, according to an ABC <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>\/Ipsos poll.<\/p>\n<p>Treasury Secretary Janet Yellen admitted that the administration was \u201cwrong\u201d last year when it believed inflation would be a \u201ctransitory\u201d problem that would soon clear up.\u00a0<\/p>\n<p>Both Yellen and Federal Reserve Chairman Jerome Powell had repeated the \u201ctransitory\u201d claim even though inflation was climbing to 40-year highs.\u00a0\u200b<\/p>\n<p>\u201cI think I was wrong then about the path that inflation would take,\u201d Yellen said Tuesday. <\/p>\n<p>\u201cThere have been unanticipated and large shocks to the economy that have boosted the energy and food prices, and supply bottlenecks that have affected our economy badly that I didn\u2019t, at the time, fully understand.\u201d<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/06\/biden-slammed-for-pushing-to-lift-tariffs-on-china\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Biden slammed for pushing to lift tariffs on China&#8221; President Biden\u2019s plan to lift tariffs on China will do little to ease record levels of inflation while giving Beijing the upper hand in its trade relationship with the United States, according to analysts. Commerce Secretary Gina Raimondo said Sunday that Biden has asked his team&#8230;<\/p>\n","protected":false},"author":1,"featured_media":458763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Joe-Biden-and-Xi-Jinping-48.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129995,4973,4941,5069,991,72188],"class_list":["post-458762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-6-22","tag-china","tag-donald-trump","tag-economy","tag-joe-biden","tag-trade"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/458762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=458762"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/458762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/458763"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=458762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=458762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=458762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}