US President Joe Biden on Monday, May 23 said he was considering lifting some trade tariffs imposed on Chinese products, as the world leader called on OPEC countries to increase oil production.
“I am considering it. We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration,” Biden said on the day regarding cutting trade tariffs on China.
Biden’s comments comes at a time when his country is burdened with a severe wave of inflation that may result into a recession, which in turn may have a political implication.
Biden, speaking at a news conference after holding talks with Japan’s Prime Minister Fumio Kishida, acknowledged the US economy has “problems” but said they were “less consequential than the rest of the world has.”
He added: “This is going to be a haul. This is going to take some time,” even as he rejected the idea a recession in the US was inevitable.
(Details to be added soon. With agency inputs)
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