Due to a surge in consumer prices, the US administration is carefully studying the inflationary impact of tariffs imposed on China by former President Donald Trump's administration, according to White House press secretary Jen Psaki, who recently said she had no news on tariff reductions as US trade representative Katherine Tai is still reviewing those tariffs.She was, however, clear that higher inflation was a factor in the discussions.
"This is an ongoing process, and we're certainly looking at where we see costs being raised and, at a time where we're seeing heightened inflation, certainly that's on our minds," Psaki was quoted as saying by a global newswire.
Due to a surge in consumer prices, the US administration is carefully studying the inflationary impact of tariffs imposed on China by former President Donald Trump's administration, according to White House press secretary Jen Psaki, who has said she had no news on tariff reductions as US trade representative Katherine Tai is still reviewing those tariffs.#
She said the review was also looking at larger issues, such as China's behaviour in global markets and the impact of tariffs on wages, job opportunities and America's competitive edge.
Easing tariffs on non-strategic Chinese goods like bicycles or apparel could help combat inflation, US deputy national security adviser Daleep Singh recently said.
Fibre2Fashion News Desk (DS)