A combination of removing some tariffs, launching a new “section 301” analysis of potential areas for new tariffs and expanding the list of tariff exemptions to help US companies that can only get certain supplies from China were considered.
make tariffs Chinese imports They are more expensive for US companies, and products are more expensive for consumers.
Trump imposed tariffs currently in place in 2018 and 2019 on Chinese imports worth at the time $370 billion to pressure the Asian giant for its alleged theft of American intellectual property.
Lowering inflation is one of Biden’s main goals ahead of the November midterm elections, which could shift control of one or both houses of Congress from Democrats to Republicans.
However, China’s reaction to House Speaker Nancy Pelosi’s visit to Taiwan last week has prompted the government to recalculate, which is seeking to do nothing the Asian giant could see, such as rising.
Chinese soldiers have been engaged for days in launching ballistic missiles and simulating attacks on the island of Taiwan, which China claims belongs to.
“I think Taiwan has changed everything,” said a source familiar with the latest developments in the operation.
A senior administration official made it clear that Biden had not made a decision.
“The president did not make a decision before the events in the Taiwan Strait and he has not made a decision yet, this period. All options are still on the table,” the source said.