US President Joe Biden said he could drop some of the tariffs imposed against Chinese imports. This move would be aimed at helping to lower US consumer price inflation:
- could drop some or all of them
Biden spoke Tuesday US time on inflation issues:
- “We’re looking at what would have the most positive impact,”
- said further that removing the tariffs was currently under discussion
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The Trump tariffs jammed up prices on consumer goods in the US. That's the point of levying charges against imported goods. Its not only the price of the imports that rises, its the price of domestically-produced goods that compete with those imports. Basic economics. The politics of the whole thing are, of course, open to discussion.
