The Biden administration is carefully studying the inflationary impact of tariffs imposed on China by former President Donald Trump’s administration given a surge in consumer prices, White House press secretary Jen Psaki said on Monday.
Mr. Biden’s approval ratings have fallen as the costs of energy, food and other staples have risen, with mounting public frustration threatening to cost Democrats their slim majorities in Congress in midterm elections in November.
Chad Bown, a senior fellow at the Peterson Institute for International Economics, said Psaki’s comments compounded expectations that the Biden administration was considering tariff reductions. Mr. Bown said that would likely require behind-the-scenes negotiations with Beijing. Such a move would also likely cause tensions with a Biden administration push to move supply chains from China and closer to home.
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