Joe Biden may advocate easing tariffs on some consumer goods from China, but a key presidential ally says the timing is wrong – and claims it won’t do much to fight inflation.
In an interview on CNN on Wednesday, AFL-CIO President Liz Shuler said, “We think it’s the wrong time to ease tariffs on China.” would have a marginal impact on inflation.”
On Tuesday, the White House signaled some willingness to adjust some of former President Donald Trump’s tariffs on Chinese products, MarketWatch reported.
Read: Biden’s White House signals interest in ending some of Trump’s China tariffs
White House press secretary Karine Jean-Pierre was asked about it an Axios report That said Biden is prone to removing some products from the Trump administration’s China tariff list.
“Some Trump tariffs have been irresponsible and do not advance our economic or national security and instead increase costs to families and businesses,” the press secretary told reporters. She added that “at this point in time” she has no announcement of a decision.
Shuler’s interview came a day after Biden spoke at the AFL-CIO conference in Philadelphia, telling the organization that inflation is a global challenge and that the US is better able to fight it than other countries thanks to its economic policies. He did not talk about tariffs in the speech.
Now read: The White House admits that Americans are “concerned about inflation and the stock market” as the S&P 500 wipes out all gains since Biden took office
US Stocks DJIA,
rose on Wednesday but was off session highs as investors debated whether the Federal Reserve will eventually make its biggest rate hike since 1994.
Read Market Overview.
https://www.marketwatch.com/story/we-think-its-the-wrong-time-to-relax-tariffs-on-china-afl-cio-chief-opposes-easing-levies-as-biden-signals-interest-11655309904?rss=1&siteid=rss ‘We think it’s the wrong time to ease tariffs on China’: AFL-CIO chief rejects tariff easing as Biden signals interest