US plans to remove tariffs on China

The United States is reviewing removing some tariffs on China and pausing the federal gasoline tax as the country struggles to cope with rising fuel prices and inflation, two senior officials said. range.

In an interview for ABC News, Treasury Secretary Janet Yellen mentioned that some tariffs on China inherited from the government of former President Donald Trump “had no strategic purpose” and added that President Joe Biden reviews them as a way to reduce inflation.

However, Yellen did not provide details and refused to say when a decision might be made.

“We all recognize that China engages in a number of unfair trade practices that are important to address, but the tariffs we inherit, some of which serve no strategic purpose and increase costs for consumers,” he said.

For her part, Secretary of Energy Jennifer Granholm added that Biden is also evaluating a pause in the federal gasoline tax as another option to reduce prices and assured CNN that such a measure is not ruled out.

Biden said in recent weeks that he was considering removing some of the tariffs on hundreds of billions of dollars imposed on Chinese products during 2018 and 2019, in the context of a trade war between the world’s two largest economies.

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