{"id":470706,"date":"2022-07-04T19:46:39","date_gmt":"2022-07-04T16:46:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-may-lift-chinese-tariffs-in-bid-to-tackle-inflation-report\/"},"modified":"2022-07-04T19:46:39","modified_gmt":"2022-07-04T16:46:39","slug":"biden-may-lift-chinese-tariffs-in-bid-to-tackle-inflation-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-may-lift-chinese-tariffs-in-bid-to-tackle-inflation-report\/","title":{"rendered":"#Biden may lift Chinese tariffs in bid to tackle inflation: report"},"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-6a40b40e401a9\" 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-6a40b40e401a9\" 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-may-lift-chinese-tariffs-in-bid-to-tackle-inflation-report\/#%E2%80%9CBiden_may_lift_Chinese_tariffs_in_bid_to_tackle_inflation_report%E2%80%9D\" >&#8220;Biden may lift Chinese tariffs in bid to tackle inflation: report&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBiden_may_lift_Chinese_tariffs_in_bid_to_tackle_inflation_report%E2%80%9D\"><\/span>&#8220;Biden may lift Chinese tariffs in bid to tackle inflation: report&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>President Biden is poised to roll back tariffs on some Chinese imports in an effort to slow soaring rates of inflation not seen in the country for decades.<\/p>\n<p>A decision by Biden could be announced as soon as this week, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/biden-might-soon-ease-chinese-tariffs-in-a-decision-fraught-with-policy-tensions-11656927001\">according to The Wall Street Journal.<\/a><\/p>\n<p>The Biden administration is wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing up a mandatory review of tariffs on Chinese imports that were first imposed by former President Donald Trump, who argued that China needed to be penalized due to unfair trade practices.<\/p>\n<p>American businesses and labor unions that have favored keeping the tariffs in place will have until Tuesday to offer comment before the administration announces a final decision, the Journal reported.<\/p>\n<p>Biden has repeatedly postponed plans to cut tariffs due to policy disagreements among his own senior aides and Cabinet secretaries, the outlet said.<\/p>\n<p>Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo are reportedly in favor of reducing tariffs because they view them as ineffectual in addressing alleged trade practices by Beijing.<\/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\/07\/president-xi-jinping-getty-01-1.jpg?w=1024\" alt=\"\" class=\"wp-image-22909788\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/president-xi-jinping-getty-01-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/president-xi-jinping-getty-01-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/president-xi-jinping-getty-01-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>China has long demanded that the US lift tariffs that were imposed by the Trump administration.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>But others in the administration, including US Trade Rep. Katherine Tai and national security adviser Jake Sullivan, favor keeping the tariffs in place as a tool to exercise leverage over China. <\/p>\n<p>Sullivan and Tai want to lift tariffs only on condition that China addresses American complaints that unfair trade practices put US companies at a disadvantage.<\/p>\n<p>Biden hopes that lifting tariffs will reduce the cost of consumer goods that have risen sharply in the last year due to record levels of inflation.<\/p>\n<p>In May,\u00a0the consumer price index remained at a sky-high clip of 8.6% \u2014 the highest since 1981 \u2014 thanks to skyrocketing oil prices as well as the rising cost of food, rent and health care.<\/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\/07\/chinese-imports-getty-01-1.jpg?w=1024\" alt=\"Biden administration officials are divided on the question of whether to lift tariffs on China.\" class=\"wp-image-22909801\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-01-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-01-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-01-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Biden administration officials are divided on the question of whether to lift tariffs on China.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The 8.6% year-over-year figure is higher than the 8.3% that was predicted by analysts \u2014 and exceeded the 8.3% posted in April, when it dipped from 8.5% in March.<\/p>\n<p>The Personal Consumption Expenditures price index, the Fed\u2019s preferred gauge for inflation, rose 6.3% in May, according to Commerce Department data released on Thursday. <\/p>\n<p>The reading showed that inflation remains a persistent threat to the economy, though it is showing signs of leveling off after a months-long surge.<\/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\/07\/chinese-imports-getty-02-1.jpg?w=1024\" alt=\"Some economists doubt that lifting tariffs will do much to curb inflation.\" class=\"wp-image-22910344\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-02-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-02-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/chinese-imports-getty-02-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Some economists doubt that lifting tariffs will do much to curb inflation.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Economists doubt that lifting tariffs, which is one of the few tools that the administration has at its disposal to fight inflation, will have a considerable effect.<\/p>\n<p>China has demanded that Washington ease tariffs on its imports.<\/p>\n<p>\u201cWith inflation rates running high across the globe, the US needs to lift all the additional tariffs imposed on China, as this will serve the interests of businesses and consumers and benefit both countries and the world at large,\u201d Chinese Foreign Ministry spokesman\u00a0Wang Wenbin\u00a0told reporters on June 15.\n                        <\/p><\/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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/07\/04\/biden-may-lift-chinese-tariffs-in-bid-to-tackle-inflation-report\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Biden may lift Chinese tariffs in bid to tackle inflation: report&#8221; President Biden is poised to roll back tariffs on some Chinese imports in an effort to slow soaring rates of inflation not seen in the country for decades. A decision by Biden could be announced as soon as this week, according to The Wall&#8230;<\/p>\n","protected":false},"author":1,"featured_media":470707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/newspress-collage-22909190-1656953027824.jpg?quality=75&strip=all&1656938778&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130977,4973,94183,100568,70551,991,72970,74489,93342],"class_list":["post-470706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-4-22","tag-china","tag-gas","tag-gas-prices","tag-inflation","tag-joe-biden","tag-oil","tag-oil-prices","tag-tariffs"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470706","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=470706"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/470706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/470707"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=470706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=470706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=470706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}