US President Joe Biden hints at revoking some trade tariffs imposed on China; Details here
US President Joe Biden said on Monday (May 23) he was considering lifting some trade tariffs imposed on Chinese goods, as the world leader called on OPEC countries to increase oil production.
” I’m thinking about it. We have not imposed any of these tariffs. They were imposed by the last administration and they are being considered,” Biden said on the day of cutting trade tariffs on China.
Biden’s comments come at a time when his country is being dogged by a severe wave of inflation that can lead to a recession, which in turn can have political implications.
Biden, speaking at a press conference after speaking with Japanese Prime Minister Fumio Kishida, acknowledged that the US economy had “problems” but said they were “less significant than the rest of the world”.
He added: “It’s going to be a loot. It’s going to take time,” although he dismissed the idea that a US recession was inevitable.
(Details to be added soon. With contributions from the agency)
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