‘All Options Are on the Table' in Deciding Fate of China Tariffs, Says USTR
“No one will win” in a China-U.S. tariff war, said a Chinese Foreign Affairs Ministry spokesperson Tuesday, responding to U.S. Trade Representative Katherine Tai’s comments that the Biden administration needs to be “strategic” in deciding whether to lift the Section…
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301 duties on Chinese imports. “Against the backdrop of high inflation, the removal of tariffs on China by the U.S. serves the fundamental interests of American consumers and businesses,” said the spokesperson. “It will be good for the U.S., China and the world at large.” The U.S. needs to keep “our eye on the ball in terms of how to effectively realign the U.S.-China trade and economic relationship,” Tai told Bloomberg News Monday. “I know there’s a lot of talk around tariffs right now” amid “global economic dynamics,” exacerbated by the “impacts of Russia’s invasion of Ukraine,” said Tai. “All options are on the table in terms of how we address our short-term economic needs.”