Biden still weighing China tariff options as requests to keep them pile up By Reuters
2022-07-06 16:50:05
more 
304
Biden still weighing China tariff options as requests to keep them pile up © Reuters. FILE PHOTO: The flags of the United States and China fly from a lamppost in the Chinatown neighborhood of Boston, Massachusetts, U.S., November 1, 2021. REUTERS/Brian Snyder

By David Lawder and Trevor Hunnicutt

WASHINGTON (Reuters) -U.S. President Joe Biden's team is still looking at options on whether to cut tariffs on Chinese imports to ease inflation, the White House said on Tuesday as industry requests to maintain the duties mounted.

More than 400 requests to keep tariffs in place on Chinese goods had been submitted to the U.S. Trade Representative's office as of late Tuesday, complicating Biden's decision-making.

Among these are a committee of 24 labor unions from the AFL-CIO to the Air Line Pilots Association, which has requested https://www.usw.org/news/media-center/articles/2022/june/22-06-06-LAC-mbrs-comments-on-301-Tariff-Extension.pdf that all of the "Section 301" tariffs imposed by former President Donald Trump continue, covering some $370 billion in Chinese imports.

If he substantially removes the tariffs, Biden would have to turn his back on a key constituency. He has described himself as the most pro-labor president ever, heavily relying on unions to power his Democratic Party primary and general election wins in 2020.

After weeks of deliberations within the administration over cutting tariffs as a way to ease high inflation, White House Press Secretary Karine Jean-Pierre said Biden's team was still weighing various strategies.

"There are a lot of different elements to this, especially since the previous administration imposed these tariffs in such a haphazard way, in a non-strategic way," Jean-Pierre said. "So we want to make sure that we have the right approach. And again, his team is talking, is figuring it out, and they're talking through this."

Jean-Pierre declined to provide a timeline for Biden's decision when asked whether it would wait until he speaks with Chinese President Xi Jinping - a planned call that is yet to be scheduled.

People familiar with the tariff deliberations have told Reuters that Biden also is weighing whether to pair a removal of some tariffs with a new Section 301 investigation into China's industrial subsidies and efforts to dominate key sectors, such as semiconductors.

A probe would take up to a year to conduct and could lead to a new round of tariffs, but the sources said that Biden can claim that any such duties would be more strategically focused than many of the current tariffs on consumer goods such as cotton sweaters and home internet routers.

The deliberations come as USTR is conducting a four-year statutory review of the tariffs, with one deadline for submitting requests to keep tariffs in place expiring late on Tuesday and another lasting until Aug. 22.

The tariff issue was raised during a call between U.S. Treasury Secretary Janet Yellen and Vice Premier Liu He on Monday night, but a Treasury statement did not mention the duties and focused on broader economic challenges and Russian sanctions.

Statement:
The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。