WASHINGTON (Pakistan Point News / Sputnik - 29th April, 2022) The United States is continuing to look at the tariffs on China introduced by the Trump administration, White House press Secretary Jen Psaki said in a press briefing on Thursday.
"There is an ongoing review of that ," Psaki said when asked to what extent the administration is looking at cutting tariffs on Chinese goods as a way to ease inflation. "We are certainly continuing to look at where these tariffs put in place by the prior administration don't make sense. And one of the factors we are looking at as a part of this review is certainly the impact on jobs, and wages and of course on inflation, and costs of course of goods. But we are also looking at where we have concerns about the economic policies and approaches of China."
In 2018, the US hiked duties on certain Chinese imports in a bid to balance the trade deficit. Both countries exchanged several rounds of reciprocal tariffs the following year.
In January 2020, the Trump administration and the Chinese government made a two-year trade deal known as "Phase One," under which the US retained 25% duties on Chinese goods worth about $250 billion per year, and 7.5% duties on goods worth $120 billion, while China committed to purchasing $75 billion worth of US industrial goods, $50 billion worth of energy, $40 billion worth of agricultural products and up to $40 billion in services.
In December 2021, China said it made efforts to fulfill the deal despite the pandemic and expressed the hope that the US would also make efforts on its end to continue developing bilateral trade.
