President Biden is preparing to reshape some of Trump’s tariffs on China, which will likely include lifting a narrow set of tariffs on Chinese imports. A decision is expected this month.
Some administration officials and outside economists have identified lifting some of the tariffs on China as one way to partially ease high prices U.S. consumers are now paying. | Mark Schiefelbein/AP PhotoPresident Joe Biden is preparing to alter some of former President Trump’s tariffs on China, with a decision expected this month.
But in its current form, the tariff plan would be a defeat for Biden officials like Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo, who have pushed for broader tariff relief as a way to combat inflation and show voters ahead of the midterms that Biden is working to counteract rising prices.
Alongside those actions, the administration will also announce a new tariff investigation under Section 301 of the 1974 Trade Act that will target sectors of the Chinese economy that are heavily subsidized by the Chinese Communist Party. The U.S.
The announcement will represent the culmination of a year-long debate at the White House over when and how to reshape Trump’s trade legacy on China. The administration last yearto pair tariff relief for consumer goods with new duties on high-tech Chinese goods, but elected to allow USTR Katherine Tai to engage her Chinese counterpart in economic conversations before announcing the plan.
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