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Biden is proposing to raise taxes imposed on China by Donald Trump in a bid to reduce inflation


“It simply came to our notice then. In fact, the president asked us for his team to look into that. So we are in the process of doing that for him and he will have to make that decision, “Raimondo told CNN in an interview on Sunday when asked if the Biden administration is weighing up tariffs on China to reduce inflation.

“There are other products – household goods, bicycles, etc. “And it might make sense,” she said, to consider raising tariffs on them, she said, adding that the administration had decided to keep some of the tariffs on steel and aluminum to protect American workers and the steel industry.

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Biden said he was considering eliminating some of his predecessor’s tariffs on Chinese goods worth hundreds of billions of dollars in 2018 and 2019 amid a fierce trade war between the world’s two largest economies.

China also claims that lowering tariffs would reduce costs for US consumers.

Raimondo also told CNN that he felt that the semiconductor shortage could continue until 2024.

“There is a solution (for the shortage of semiconductor chips). Congress must act and decide on the Chips Bill. I don’t know why he is postponing, “she added.

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The law seeks to increase US semiconductor production to give the United States more competitive power over China.

Raimondo said he did not agree that Biden’s $ 1.9 trillion bailout had contributed to the current high inflation.

Congress passed the aid package for Covid-19 a year ago before it was enacted, marking the completion of Biden’s first year in office.

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