Kanishka Singh

WASHINGTON, (Reuters) – U.S. Commerce secretary Gina Raimondo stated on Sunday that President Joe Biden asked his team for help in looking at lifting tariffs placed on China by the former President Donald Trump to reduce the high level of inflation.

We are currently looking into it. The president actually asked his team members to look at it. When Raimondo was asked by CNN if the Biden administration considered lifting China’s tariffs to reduce inflation, Raimondo said that they were in the process.

There are also other products such as household items, bikes, and so it might make sense to weigh-lift tariffs. She added that the Trump administration decided to retain some steel and aluminum tariffs to protect U.S. workers, and the steel industry.

Biden stated that he’s considering eliminating some of the tariffs on Chinese goods valued at hundreds of millions of dollars by his predecessor in 2018, and 2019, amid a fierce trade war between two world’s largest economies.

China has also claimed that tariff cuts would reduce costs for American consumers.

CNN also heard Raimondo express concern that the shortage of semiconductor chips could continue into 2024.

She said that there is only one way to solve the problem of semiconductor chip shortages. “Congress must act to pass the Chips Bill. It is a mystery to me why they keep putting off.

To give the United States a greater competitive advantage against China, this legislation seeks to increase U.S. semiconductor production.

Raimondo indicated that she did not agree with the claim that Biden’s $1.9 billion American Rescue Plan was responsible for the current high levels of inflation. The COVID-19 relief package was passed by Congress a year before its signing into law. This is a landmark achievement in Biden’s first term.