37.1 C
Tuesday, June 28, 2022

US mulls ending some tariffs against China to counter inflation: Commerce Secretary

- Advertisement -

Singapore, June 9 (Ajit Weekly News) The Biden administration is considering ending some Trump-era tariffs on Chinese goods in an attempt to control domestic inflation, local media recently quoted US Commerce Secretary Gina Raimondo as saying.

US President Joe Biden has asked Raimondo and other administration officials to analyse possible plans for lifting some of the Trump administration’s tariffs on Chinese imports, the Chinese newspaper Lianhe Zaobao reported on Wednesday.

The current administration has decided to maintain tariffs on steel and aluminum to protect the domestic steel industry, the Commerce Secretary said, but she added that it “may make sense” to lift tariffs on products like household goods and bicycles.

As Americans are suffering from rising prices of consumer goods, Biden said earlier that fighting inflation is his top economic priority.

–Ajit Weekly News

- Advertisement -
- Advertisement -
Latest news
Related news