Biden to speak with China's Xi, deciding on easing tariffs

Robert Besser
22 Jun 2022, 12:58 GMT+10

U.S. President Joe Biden has said that he is planning to speak with Chinese President Xi Jinping soon, and is deciding whether to ease economic tariffs on China
President Donald Trump has imposed a 25 percent duty on billions of dollars of Chinese products
The tariffs were designed to reduce the U.S. trade deficit and force China to adopt fairer practices

WASHINGTON, D.C.: U.S. President Joe Biden has said that he is planning to speak with Chinese President Xi Jinping soon, and is deciding whether to ease economic tariffs on China.

President Donald Trump has imposed a 25 percent duty on billions of dollars of Chinese products. The tariffs were designed to reduce the U.S. trade deficit and force China to adopt fairer practices.

Meanwhile, Treasury Secretary Janet Yellen has said that eliminating some of the China tariffs would help America fight inflation in the United States.

However, U.S. Trade Representative Katherine Tai has voiced objections to easing tariffs when China has not upheld its agreements on purchasing U.S. products.

"What is of the utmost importance for us is to ensure that this medium-term strategic realignment that we know we need to accomplish is something that we are able to accomplish and that nothing that we do in the short term undermines that larger goal," Tai recently told The Associated Press.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Peking Press.

More Information

null in null

Business

Section

Stocks in Asia on the rise, Nikkei 225 jumps 379 points

SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...

Toyota reduces July global production goal by 50,000 vehicles

TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...

One-third of car sales might be electric by 2028, says analysts

NEW YORK CITY, New York: Electric vehicle (EV) sales could reach 33 percent globally by 2028, and 54 percent by ...

G-7 meeting to hear bids to stop biofuel to reduce food prices

BERLIN, Germany: To prevent large increases in food prices, officials from G7 countries, including Germany and the UK, will push ...

Announcement expected this week to ban Juul e-cigarettes in US

WASHINGTON D.C.: The U.S. Food and Drug Administration (FDA) is preparing to order Juul Labs to stop selling its e-cigarettes ...

As US average home price reaches $400,000, sales fall

WASHINGTON D.C.: As average home prices surged to a record high, reaching the $400,000 mark for the first time, and ...

China

Section