Milan Debate is underway in the White House about whether or not to remove some of the tariffs imposed on China during Trump’s presidency, in an attempt to reduce imports of some cost items that weigh on the general trend of inflation. A very urgent issue for President Joe Biden, Struggling with the economic slowdown – Although it is justified by unusual factors that should not be repeated in the second quarter of the year and beyond – and with the price pickup: a combination that makes it extremely difficult for the midterm elections that the Americans face the threat of punishing the Democrats.
As it was reconstructed Axiosa card on the back of the US administration is to provide some exemptions for certain product categories, which would evade duties imposed by Trump in August 2019, on goods totaling 300 billion, in his program to do America “Great again”, particularly in response to the failure to meet the commitment of China By buying more agricultural products made in the US, in order to rebalance the trade balance.
by Domenico Siniscalco
But, according to another assessment, this option risks jeopardizing the “hard-line” attitude that Biden himself had toward Beijing: proponents of this line believe that it is not right to ease tariffs so as not to get something to return. The paper portrays the standoff as a juxtaposition of Treasury experts, including Secretary Janet Yellen, the former Federal Reserve chairman, and National Security Council “hawks” who want to keep pressure on China high. There were no official comments from either side.
To open the debate clearly, were the words of Dalip Singh, who is on Biden’s team the architect of sanctions against Russia, who has developed some products that questioned whether it made sense to have special duties, such as “bikes, clothes or underwear.” Then Yellen herself, speaking with Bloomberg, added that this is a reflection worth considering, and is something the Treasury has in mind. Situations that some of the executives who pointed this out to the White House did not like. The debate was opened between economists and political representatives, moreover, at a very sensitive moment in which China was harshly criticized by Washington, as reports were broadcast and still imposed sanctions on indirect support for Moscow, while accusing the other side of daily come to NATO.
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