U.S., China Talk Trump Tariffs

Senior U.S. and Chinese officials discussed U.S. economic sanctions amid reports that the White House is considering rolling back some of the levies imposed by the previous administration. During a call on Tuesday morning, China’s Vice Premier told U.S. Treasury Secretary Janet Yellin that lifting tariffs and sanctions and the fair treatment of Chinese enterprises are areas of concern for the Southeast Asian nation. Bloomberg says the administration called the talks candid and substantive. However, the secretary mentioned several issues that concerned the U.S., including the impact of Russia’s war against Ukraine on the global economy and China’s unfair, non-market economic practices. The discussion happened as President Biden may roll back some of the American tariffs on Chinese imports worth hundreds of billions of dollars, possibly this week. As inflation increases in America, economic experts expect the administration will ease the taxes to help lower the costs of everyday items.