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Biden Considers Dropping China Tariffs to Fight Inflation
Published on: 2022-05-12
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U.S. President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the U.S. — just as Wall Street braces for another inflation report north of 8%.
 

The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on everything from diapers to clothing and furniture — and could opt to remove them altogether, Biden said in addressing the nation from Washington on Tuesday.
 

“We’re looking at what would have the most positive impact,” Biden said, adding that removing the tariffs was currently under discussion.
 

Trump levied a raft of financial penalties on Chinese goods in a long-running tit-for-tat trade war with Beijing in an effort to bolster American-made goods.
 

The extent to which removing Trump’s taxes on Chinese products would cool inflation is a matter of debate among economists, but many say easing or removing the tariffs altogether is among the few options available to a White House eager to pull every lever available to ease costs.
 

The president reiterated that a combination of Covid-19 protocols at home and abroad and Russian President Vladimir Putin’s invasion of Ukraine has caused prices in the U.S. to jump at their fastest pace since the early 1980s.
 

While West Texas crude futures are well off highs of over $130 a barrel seen in March, oil contracts for June delivery were last seen trading around $100, about $30 above where they began the year.
 

The president noted that the war has also driven up the prices of contracts for key food products such as wheat and corn, which are up 40% and 30%, respectively, in 2022. Russia and Ukraine together supply more than a quarter of the world’s wheat.
 

被高物价逼入困境,拜登称正考虑取消对华加征的关税

当地时间10日,美国总统拜登表示,正在考虑取消特朗普任内对中国加征的关税,但目前“还没有作出决定”。拜登此话被舆论普遍认为是试图以此降低美国高通胀的“救急之举”。近来美国通胀率持续飙升,11日美国公布的4月份CPI(消费者物价指数)同比上涨仍然高达8.3%。拜登和民主党的民意支持率也因此持续下滑。显然,持续高企的通胀率已经成为美国中期选举之前拜登政府的“不可承受之重”。近几个月来,每当美国公布通胀数据前后,总有美方官员放风称可能取消对华加征关税,但一直是雷声大雨点小。对于拜登10日的表态,中国外交部发言人赵立坚11日表示,贸易战、关税战没有赢家。自美国发动对华贸易战以来,已经使美国公司损失超过1.7万亿美元,每年还使美国每户家庭开支增加1300美元。贸易战启动的前3年美国就丢失了24万个工作岗位。这些数字充分说明贸易战对谁都没好处,美国政府是时候重新考虑并尽早取消这些加征的关税了。

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