White House says discussing ‘irresponsible’ tariffs imposed by Trump By Reuters

By Nandita Bose and Trevor Hunnicutt

ABOARD AIR FORCE ONE (Reuters) -The White House is discussing potential adjustments to some “irresponsible” tariffs imposed on Chinese items by former President Donald Trump that raised prices on U.S. households and companies, press secretary Karine Jean-Pierre stated on Tuesday.

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She stated inside discussions had been persevering with, however gave no particulars on President Joe Biden’s interested by potential tariff reductions – a transfer consultants say may contribute to the administration’s pressing efforts to fight inflation.

Trump imposed tariffs of as much as 25% on a whole bunch of billions of {dollars} value of Chinese imports, together with many shopper items from bicycles to Bluetooth units and attire.

Jean-Pierre stated the Biden administration had lengthy famous that a few of these Trump-era tariffs had been “irresponsible and did not advance our national security,” ensuing as an alternative in increased prices for U.S. shoppers and companies.

“We’re discussing this, and working to align these haphazard tariffs and our priorities to safeguard the interests of our workers and critical industries,” she instructed reporters aboard Air Force One as Biden flew to Philadelphia for a union conference.

Biden has instructed aides that he’s inclined to cute a few of the tariffs on Chinese items, however requested for detailed evaluation and choices in current weeks, in response to an individual accustomed to the matter. A choice is anticipated quickly.

Treasury Secretary Janet Yellen final week instructed lawmakers that the administration was actively trying to “reconfigure” tariffs on Chinese imports however warned that such cuts wouldn’t be a “panacea” for relieving excessive inflation.

She stated administration officers had been inspecting adjustments to the “Section 301” tariffs on Chinese items and to the method for product-specific exclusions from these duties.

Yellen stated that whereas some tariff cuts could also be warranted and will assist carry down some shopper costs, they’d have a restricted impact on total inflation, now at its highest in over 40 years.