Biden, Xi Will Talk Soon on Tariffs, Trade, and Taiwan
Plans are in place for President Joe Biden and Chinese President Xi Jinping to meet by the end of the month as tensions increase over trade commitments, tariffs, and Taiwan. The two leaders last spoke on a call four months ago, and the new call would come as the administration considers cutting import duties on Chinese goods to help reduce inflation pressures on American consumers.
Reuters said rising inflation has prompted the look at possible tariff relief. That relief may include cutting or dropping the Section 301 tariffs imposed by former President Trump on approximately $370 billion in Chinese imports.
Sources told Reuters that the administration is considering whether to pair a removal of at least some of the tariffs with a new investigation into China’s industrial subsidies and its efforts to dominate key economic sectors.
The U.S. said high-level engagement is needed to stabilize what’s been a difficult relationship between the countries.
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