China’s war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now.
REUTERS
Mr. Biden has not made a decision on the issue and all options remain on the table, the White House said. “I think Taiwan has changed everything,” said one source familiar with the latest developments in the process, details of which have not been previously reported. The Trump administration had approved tariff exclusions for more than 2,200 import categories, including many critical industrial components and chemicals, but those expired as Mr. Biden took office in January 2021. US Trade Representative Katherine Tai has reinstated only 352 of them. Industry groups and more than 140 US lawmakers have urged her to vastly increase the numbers.
Some senior administration officials, including Treasury Secretary Janet Yellen, had argued the duties were imposed on “non-strategic” consumer goods that had unnecessarily raised costs for consumers and businesses, and removing them could help ease rampant inflation. Ms. Tai argued the tariffs were “significant leverage” that should be used to press China for changes to its behavior.Multiple factors, in addition to China’s Taiwan response, have complicated the administration’s deliberations.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China drills part of game plan for invasion — Taiwan Foreign chief - BusinessWorld OnlineTAIPEI — Taiwan’s foreign minister said on Tuesday that China was using the military drills it launched in protest against US House Speaker Nancy Pelosi’s visit as a game-plan to prepare for an invasion of the self-ruled island.
Read more »
China extends military drills around Taiwan after Pelosi’s visit - BusinessWorld OnlineTAIPEI/BEIJING — Chinese navy ships remained active off both Taiwan’s east and west coasts on Wednesday morning, a source briefed on the matter told Reuters, as Beijing kept up military drills in protest against last week’s visit to the island by US House Speaker Nancy Pelosi.
Read more »
Taiwan security officials want Foxconn to drop stake in Chinese chipmaker - FT - BusinessWorld OnlineTaiwan‘s national security officials want to persuade Apple Inc’s supplier Foxconn to unwind an $800 million investment in Chinese chipmaker Tsinghua Unigroup, the Financial Times reported on Wednesday. The deal will definitely not go through, the report said, citing a senior Taiwanese government official involved in national security issues. Taiwan, the world’s largest contract electronics […]
Read more »
Serena Williams to retire from playing after US Open - BusinessWorld OnlineNEW YORK — American great Serena Williams said on Tuesday she was “evolving away from tennis” and planned to retire from the sport she dominated with 23 Grand Slam titles following the US Open tournament, which begins later this month.
Read more »
House bill filed proposing online tracking system for revenue agencies - BusinessWorld OnlineA bill has been filed in the House of Representatives proposing the establishment of an online tracking system to monitor the performance of the two main revenue-generating agencies, the Bureau of Internal Revenue (BIR) and Bureau of Customs (BoC). READ:
Read more »