Chinese President Xi Jinping and US President Biden will hold a video meeting tomorrow morning at 8:45 Hong Kong time (7:45 pm on the 15th, US Eastern Time). On the eve of the Sino-U.S. dollar dialogue, the United States released the message that it would cut tariffs on Chinese products.
U.S. Treasury Secretary Yellen recently accepted an exclusive interview with CBS and responded to “China’s repeated requests to remove tariffs.” He said that tariffs will indeed increase domestic prices and is considering reducing or exempting some of China’s tariffs.
The host asked a question that China has repeatedly asked for the abolition of tariffs in the Trump era. If the Biden administration does this, will it make things cheaper?
Yellen responded that these tariffs imposed by the United States would indeed increase domestic prices in the United States. Yellen claimed that Trump and his administration did so as “retaliation for unfair trade practices.”