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“I’m considering it. We did not impose these obligations. They were imposed by the previous administration,” Biden said when asked about tax cuts on Chinese goods.
The US president spoke at a press conference with Japanese Prime Minister Fumio Kishida as he intensified calls for OPEC to increase oil production.
Last week, US Treasury Secretary Janet Yellen expressed support for the Trump administration’s tax on China. Repeal of certain taxes to reduce the high inflation that is putting pressure on the US economy.
“It seems to me that some of the obligations imposed by President Trump in retaliation for unfair trade practices in China are very harmful to some consumers and businesses,” Yellen told a news conference in Germany ahead of the G7 summit.
Some tariffs are “not very strategic in addressing the real problems we have with China – whether they are related to supply chain weaknesses, national security issues or other unfair trade practices,” Yellen added.
The treasury secretary said he had seen arguments in favor of raising tariffs on China, not only because of high inflation, but also because there could be “benefits for consumers and businesses”.
“Twitter’s irretrievable researcher. An amateur social media lawyer. Award-winning music expert. Became an addict. Easily lethargic.”
