US Treasury Secretary Janet Yellen said tariffs on imports from China, inherited from the former Trump administration, were "lacking strategicity and raising prices" as record inflation continued. , Revealed that the administration is considering a partial reduction of tariffs on China.
US Treasury Secretary Janet Yellen appeared on ABC TV on the 19th, saying, "We are all unfair trade in China," regarding the tariffs that the former Trump administration has imposed on imports from China and the Biden administration has taken over. We recognize that we are doing this, and it is important to work on this. "
On the other hand, "Some of the tariffs inherited from the Trump administration lack strategicity and raise prices. Restructuring a part of the tariffs makes sense because it reduces a certain burden. "We are considering reducing some tariffs on China within the administration."
President Biden admitted on the 18th that he was "summarizing his thoughts" when asked by reporters about the possibility of eliminating or reducing tariffs on China.
In the background, it seems that there is a desire to lead to record inflation easing as the autumn midterm election approaches, but the Chinese side has not drawn out concrete measures to correct unfair trade practices. The Biden administration is faced with a difficult decision, as the criticism of unilateral concessions is unavoidable if tariffs are reduced.