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President Joe Biden said Saturday he plans to hold talks with Chinese leader Xi Jinping soon as he considers considering removing some tariffs imposed on Chinese goods during Mr. Trump’s administration.
President Biden did not provide details on when the talks would take place, but said a decision on the fate of economic tariffs was approaching.
“I am at the point where I have to decide what I am going to do“Mr Biden told reporters in a brief exchange after a bike ride near his beach house in Dellauer.
Assistants addressing national and economic security issues are nearing completion of a process of reviewing U.S. tariff policies and making recommendations to the president.
According to tariffs imposed under President Donald Trump on Chinese products worth billions of dollars a tariff of 25% was imposed. The tariffs were intended to reduce the US trade deficit and force China to adopt fairer practices.
Treasury Secretary Janet Yellen recently called for the elimination of some of these tariffs to fight inflation in the United States. Other Biden administration officials, including US Trade Representative Katherine Tai, have raised concerns about easing the tariffs, at a time when China has not complied with its agreements to buy US products.
She said she saw tariffs as “a tool” in what she called the “economic policy toolbox” that could be considered, but along with “many other tools at our disposal”, as she put it.
“It is very important for us that nothing we undertake in the short term plan undermines the goal of magnifying“Ms. Tai told the Associated Press during an interview last month./VOA
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