Search
 
News

Biden Team Looking to ‘Reconfigure’ China Tariffs

The goal is to make the tariffs more strategic, but reducing tariffs on imports might also help with inflation.

By Christopher Condon | June 08, 2022 at 10:58 PM
Stock illustration: U.S. and China playing chess

U.S. Treasury Secretary Janet Yellen said the Biden administration is looking to “reconfigure” tariffs imposed on Chinese goods under former President Donald Trump to make them more “strategic.”

“This administration inherited a set of 301 tariffs imposed by the Trump administration that I think really weren’t designed to serve our strategic interests,” Yellen told lawmakers on Capitol Hill Wednesday. Yellen’s comment referred to Section 301 of the Trade Act of 1974. Trump used that law to hit China with the tariffs starting in July 2018, after an investigation concluded that China stole intellectual property from American companies and forced them to transfer technology.

While China is guilty of unfair trade practices, and the United States should be acting to protect its national-security interests, some of the existing tariffs have hurt American consumers and businesses, Yellen said.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Inflation and Labor Are Cooling

Inflation and Labor Are Cooling

Augusta Saraiva |

Fed rate hikes are on hold for now, but some think inflation and the soft job market will lead to cuts in the near future.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.