{"id":1540537,"date":"2022-07-06T06:19:18","date_gmt":"2022-07-06T10:19:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1540537"},"modified":"2022-07-06T06:19:29","modified_gmt":"2022-07-06T10:19:29","slug":"biden-to-lift-trump-era-tariffs-on-china","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-lift-trump-era-tariffs-on-china\/","title":{"rendered":"Biden to Lift Trump-Era Tariffs on China"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-to-lift-trump-era-tariffs-on-china%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1540537&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>The Biden administration is reportedly planning to lift some tariffs on Chinese imports as it seeks to balance maintaining economic pressure on Beijing with addressing domestic inflation.<\/p>\n<p>The announcement would likely include the lifting of tariffs on consumer goods like clothing or school supplies, and has been delayed due to major disagreement within the administration, The Wall Street Journal <a href=\"https:\/\/www.wsj.com\/articles\/biden-might-soon-ease-chinese-tariffs-in-a-decision-fraught-with-policy-tensions-11656927001?mod=djemRTE_h\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a>.<\/p>\n<p>One group of Biden advisors led by Treasury Secretary Janet Yellen has argued that tariffs raise prices and drag down the economy at a time when the U.S. is facing inflation and a possible recession, while members of another camp that includes Trade Representative Katherine Tai and National Security Adviser Jake Sullivan are telling the president not to forfeit strategic leverage by reducing tariffs without getting anything substantive in return, the WSJ added.<\/p>\n<p>A spokesperson for the White House did not confirm or deny that a decision has been made, but directed The Daily Caller News Foundation to <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2022\/06\/14\/press-gaggle-by-press-secretary-karine-jean-pierre-en-route-philadelphia-pa\/\" target=\"_blank\" rel=\"noopener noreferrer\">comments<\/a> made by White House Press Secretary Karine Jean-Pierre on June 14, that \u201csome Trump tariffs were irresponsible and do not advance our economic or national security and instead raise costs for families and businesses\u2026 we\u2019re discussing this and working to align these haphazard tariffs and our priorities to safeguard the interest of our workers and critical industries.\u201d<\/p>\n<p>On Monday Secretary Yellen had a <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0849\" target=\"_blank\" rel=\"noopener noreferrer\">call<\/a> that the Treasury Department described as \u201ccandid and substantive,\u201d with her counterpart in Beijing, Liu He. The parties reportedly discussed the \u201cimpact of Russia\u2019s war against Ukraine on the global economy and unfair, non-market PRC economic practices.\u201d The Treasury Department\u2019s readout does not mention tariff reductions, but does note that Secretary Yellen \u201clooks forward to future discussion with Vice Premier Liu.\u201d<strong> <a href=\"https:\/\/dailycaller.com\/2022\/06\/30\/federal-reserve-gdp-red-flag-america-just-entered-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: There\u2019s A Fat Red Flag That America Just Entered A Recession)<\/a><\/strong><\/p>\n<p>Economists cited by the WSJ suggest that removing the tariffs won\u2019t have a massive impact on curbing inflation, and would likely only reduce the consumer price index by about 0.26% in the near term.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Barclay\u2019s (like others): removing tariffs on China predatory practices will have no real impact. China will be able to export $90B more. Then a new case might be considered. I\u2019m all for that, but if current retaliation is a problem, what will you do then? <a href=\"https:\/\/t.co\/4YywO3WnWF\">https:\/\/t.co\/4YywO3WnWF<\/a><\/p>\n<p>\u2014 Michael Wessel (@MWesselDC) <a href=\"https:\/\/twitter.com\/MWesselDC\/status\/1544309295256178688?ref_src=twsrc%5Etfw\">July 5, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Proponents of the tariff reduction, however, think the move would signal that President Biden is serious about fighting rising prices, reported the WSJ. With the Federal Reserve primarily in charge of keeping inflation in check, tariff reduction is one of just a handful of policies that a president can pursue.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration is reportedly planning to lift some tariffs on Chinese imports as it seeks to balance maintaining economic pressure on Beijing with addressing domestic inflation.The announcement would likely<\/p>\n","protected":false},"author":1,"featured_media":1540629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1540537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1540537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1540537"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1540537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1540629"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1540537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1540537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1540537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}