The Biden administration faces a legal deadline at midnight to defend Trump’s China tariffs, even as the White House considers scaling them back.
Amb. Katherine Tai, who as U.S. Trade Representative holds the leading role on the tariffs, has suggested they have strategic value in maintaining leverage in negotiations with China. The economic team, led by Treasury Secretary, has been advocating to roll back at least a some of the tariffs that directly hit consumers to alleviate inflation, administration officials say, asking not to be identified because the discussions are private.
In mid-June, White House aides confirmed they asked retail executives, which have long lobbied for relief on items like bicycles, furniture and air-conditioning units, whether tariff relief would be passed through to consumers. According to three people briefed on the meetings, retailers told the administration that the calculus wasn't as straightforward since their companies' own transportation and labor costs had risen significantly, too.
"There's no question that as we reorient our policy with China that we are going to need to ratchet up our suite of trade tools in sectors and in areas where you see the clearest threat from Chinese state run practices," another senior administration official tells CNBC, while noting all options remain on the table.
Frosty relations and rhetoric between the two countries amid recent tensions may require some distance.
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