Robert Besser
22 Jun 2022, 12:58 GMT+10
WASHINGTON, D.C.: U.S. President Joe Biden has said that he is planning to speak with Chinese President Xi Jinping soon, and is deciding whether to ease economic tariffs on China.
President Donald Trump has imposed a 25 percent duty on billions of dollars of Chinese products. The tariffs were designed to reduce the U.S. trade deficit and force China to adopt fairer practices.
Meanwhile, Treasury Secretary Janet Yellen has said that eliminating some of the China tariffs would help America fight inflation in the United States.
However, U.S. Trade Representative Katherine Tai has voiced objections to easing tariffs when China has not upheld its agreements on purchasing U.S. products.
"What is of the utmost importance for us is to ensure that this medium-term strategic realignment that we know we need to accomplish is something that we are able to accomplish and that nothing that we do in the short term undermines that larger goal," Tai recently told The Associated Press.
Get a daily dose of Jamaican Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Jamaican Times.
More InformationSHANGHAI, China: Walt Disney Company reopened Shanghai Disneyland on 30th June, one month after the city lifted a two month ...
SYDNEY, NSW, Australia - Stocks in Asia skidded lower Friday with all the major indices recording solid losses."Capitulation is the ...
ISLAMABAD, Pakistan - Given the country's ongoing economic crisis and acute fuel shortage, the Pakistan government is considering purchasing oil ...
WASHINGTON, D.C.: Amidst the rise of "re-fracs" in the U.S. as part of the efforts to boost domestic oil production, ...
SYDNEY, NSW, Australia - Stocks in Asia traded sharply lower on Thursday, following on from major falls on Wall Street ...
BERLIN, Germany: A German Interior Ministry spokesperson has said that in a bid to relieve airports overwhelmed by staff shortages ...
DUBAI, UAE: The Arab states have built significant amounts of solar and wind power installations, and are in line to ...
LONDON, England: A second referendum on Scottish independence is set to be held in October 2023. The Scottish government, led ...
LISBON, Portugal: Tuvalu Foreign Minister Simon Kofe walked out of the opening cermonies of this week's United Nations Ocean Conference ...
SULAWESI, Indonesia: Using just a rope, an Indonesian man, supported by fellow villagers on the island of Sulawesi, captured a ...
WATFORD, UK: Watford F.C. has cancelled a friendly match against the Qatar national team due to the Gulf country's human ...
ISTANBUL, Turkey: Turkish police detained dozens of people after local authorities banned Istanbul's annual Pride parade from going ahead this ...