With inflation raging, the Biden administration is weighing whether to reduce tariffs on Chinese imports.
Former President Donald Trump and Chinese Vice Premier Liu He, sign the U.S. China Phase One Trade Agreement, January 15, 2020. Credit: Trump White House Archived/Shealah Craighead via Flickr
President Biden’s team has turned its attention to one of the cornerstones of his predecessor’s China policy as it battles soaring inflation — the tariffs that target hundreds of billions of dollars worth of Chinese imports, ranging from photosensitive semiconductors to dog food.
Data: U.S. International Trade Commission
Many observers agree that Section 301 tariffs introduced under President Trump have contributed to consumer price inflation climbing to an annual rate of 8.6 p
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