Is it a good idea for President Biden to remove Trump-era Chinese tariffs?
The debate continues on whether President Biden should remove the Trump Administration’s Chinese tariffs in an effort to help with inflation. Senator Chuck Grassley weighed in on if he thinks that is a good idea.
“Just as a general rule, you know, when those first were put in place, I objected to Trump doing it. In the end, I decided with Phase One being negotiated with China, which didn’t turn out to be as good as we thought it was going to be, that China would have never negotiated without the President put it on. So, I was less critical as time goes on. But regardless, I don’t think we should use tariffs any more than absolutely necessary.”
Reports say the Biden Administration is split on removing the tariffs. Some think it will bring down inflation. Others say they never caused inflation and they are a good bargaining tool with China. The decision would have a big impact on the ag industry.