Biden intends to stop trade war with China

Biden intends to stop trade war with China

The existing conditions and common sense are forcing President Joe Biden to settle the problem created by his predecessor Donald Trump, who began a trading war with China. The global situation has changed so considerably that now Washington cannot afford a war with Beijing.
Record high inflation and an approaching economic crisis are making the White House search for compromises with the Chinese authorities over tariffs on Chinese products imposed by Donald Trump. According to National Security Advisor Jake Sullivan, the US president is trying to find ways to settle this issue. “The President has been presented with a variety of views on this.  He’s sought more information. He’s actively considering options.  And I don’t have a timeline for you, but I don’t expect that it will — this will go on indefinitely.  He will make a decision,” National Security Advisor Jake Sullivan said.  Some time ago, US Secretary of Commerce Gina Raimondo voiced a similar version, saying that President Biden instructed her and other heads of departments to analyze this issue.  The conflict between the countries was escalated by Trump's administration. Nearly two-thirds of all imports from China—or roughly $370 billion in annual goods—were covered by tariffs. According to US mass media, since early July 2018, US importers have lost about $100 billion and most of them had to break supply chains.


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