Home » world » The US Treasury Secretary revealed on the eve of the dialogue between the heads of the US and China: It is considering reducing some tariffs on China | Blog Post

The US Treasury Secretary revealed on the eve of the dialogue between the heads of the US and China: It is considering reducing some tariffs on China | Blog Post

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.

Yellen revealed that the Biden administration is considering reducing some tariffs on China. CBS video screenshot

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.

China is an important topic of this interview. CBS video screenshot

China is an important topic of this interview. CBS video screenshot

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.”

The host continued to ask: “Should they remain unchanged?”

Yellen said that the Biden administration recognizes the requirement to reduce tariffs in certain areas, and tariff reductions and exemptions are definitely under consideration. “U.S. Trade Representative Dai Qi has said that we are re-discussing the (China-U.S.) phase one trade agreement, acknowledging the requirement to reduce tariffs in certain areas. This is of course something we are considering.”

Yellen said on November 1 that the United States is considering reducing some of the tariffs imposed on China in a reciprocal way, so as to stabilize prices and reduce inflation.

After Biden came to power, the American business community has been calling for a reassessment of the Sino-US trade agreement. AP profile picture

After Biden came to power, the American business community has been calling for a reassessment of the Sino-US trade agreement. AP profile picture

After Biden came to power, the American business community has been calling for a reassessment of the Sino-US trade agreement. In August of this year, more than 30 American business groups called on the Biden administration to reduce tariffs and sanctions on Chinese products because these policies have intensified the current economic chaos in the United States.

In recent months, the United States is facing various problems such as inflation, supply chain crisis, and shortage of goods. Some analysts pointed out that if the United States lowered its tariffs on China, it would obviously be a big plus for the U.S. economy today.

The heads of state of China and the United States will meet on a video tomorrow morning. AP profile picture

The heads of state of China and the United States will meet on a video tomorrow morning. AP profile picture

On the eve of the video conference between the heads of state of China and the United States, China made demands on the United States. Chinese Foreign Ministry spokesperson Zhao Lijian said today that according to the agreement between the two sides, the heads of state of China and the United States will have a candid and in-depth exchange of views on the future strategic issues of China-US relations and important issues of mutual concern. He hopes that the United States will meet China halfway and strengthen dialogue. Cooperation, effective management and control of differences, and proper handling of sensitive issues, explore ways of mutual respect and peaceful coexistence between China and the United States as world powers in the new era, and push Sino-US relations back on the right track of healthy and stable development.

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