With inflation at a 40-year high of 8.6%, Biden and his top officials are desperate to show action on bringing down prices, even if it makes them appear weak on China.
Inflation is eating into the purchasing power of lower-income Americans — and eroding Democrats’ political fortunes ahead of midterm elections. While the Federal Reserve is the nation’s primary inflation firefighter, the tariffs that now cover $350 billion of goods imported from China are one area where Biden can act unilaterally to relieve American consumers.
But Biden’s plans to exempt some products covered by Trump’s Section 301 tariffs risk aggravating the labor movement….
But in private conversations with administration officials, labor representatives have warned the White House against relaxing any of the tariffs.
Join the conversation as a VIP Member