U.S. President Joe Biden said the U.S. government would lift tariffs on Chinese imports to halt the rise in consumer prices in the United States. While Wall Street analysts predicted that the consumer price index (CPI) will rise by about 8% in April.
„We’re discussing that right now. I’m telling you, we’re discussing it, and no decision has been made on it,“
said president Biden.
Previously, Former President Trump imposed import tariffs on various Chinese imports to promote American-made products.
Economists debate whether lifting tariffs on Chinese imports could help ease inflation in the United States. Many economists believe that easing or eliminating import tariffs could be one of the few options the White House needs to take to lower the cost of all types of goods.
President Biden blames the Covid 19 pandemic at home and abroad, as well as the Russian invasion of Ukraine, for the fastest price increases in the U.S. since the early 1980s.