The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Kim Da-mi, Jeon So-nee team up for coming-of-age film 'Soulmate'

  • 3

    Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'

  • 5

    Discussions on raising age for free subway rides gain momentum

  • 7

    Too many emergency text alerts? Gov't to halt daily COVID-19 notifications

  • 9

    First lady expands presence in domestic politics

  • 11

    'Ant-Man 3' promises bigger, better action with same family dynamic: cast

  • 13

    Seoul to discuss reforming free transportation benefits for seniors

  • 15

    FSC OKs Apple Pay to be available in Korea

  • 17

    US reaffirms nuclear security assurances to South Korea

  • 19

    Able C&C sale attracts dozens of potential buyers

  • 2

    Teens feel peer pressure to buy luxury goods endorsed by K-pop stars

  • 4

    Itaewon tragedy's bereaved families harassed by far-right protesters

  • 6

    SM to introduce multi-production system to increase business capabilities

  • 8

    Plan to construct new memorial center for ex-president faces backlash

  • 10

    Ex-justice minister gets 2-year prison term for academic irregularities surrounding family

  • 12

    Families of Itaewon crowd stampede victims clash with police over installation of memorial altar

  • 14

    Apple Pay can be launched in Korea: financial regulator

  • 16

    Naver to roll out conversational AI service

  • 18

    Yoon's office to press charges over report on fortune teller

  • 20

    Naver 2022 net profit down 96% on one-off factor

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
World
  • SCMP
  • Asia
Sun, February 5, 2023 | 17:28
SCMP
White House adviser suggests US could lower China tariffs to combat inflation
Posted : 2022-04-22 09:32
Updated : 2022-04-22 17:33
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
A man checks food products at a grocery shop in Rosemead, Calif., April 21. U.S. inflation reached a four-decade high of 8.5 percent in March and prices are expected to continue to rise for staples such as bread, meat and milk as farmers face shortages of fuel, fertilizer and materials. AFP-Yonhap
A man checks food products at a grocery shop in Rosemead, Calif., April 21. U.S. inflation reached a four-decade high of 8.5 percent in March and prices are expected to continue to rise for staples such as bread, meat and milk as farmers face shortages of fuel, fertilizer and materials. AFP-Yonhap

A man checks food products at a grocery shop in Rosemead, Calif., April 21. U.S. inflation reached a four-decade high of 8.5 percent in March and prices are expected to continue to rise for staples such as bread, meat and milk as farmers face shortages of fuel, fertilizer and materials. AFP-Yonhap
Washington is weighing a reduction of tariffs on non-strategic goods from China such as bicycles and apparel, a White House national security official said Thursday, as part of efforts to combat soaring inflation.

"While they may have created negotiating leverage, they serve no strategic purpose," Daleep Singh, deputy national security adviser for international economics, said of the tariffs imposed on Chinese imports during the trade war that began in 2018.

"Our opportunity ... is to reframe the purpose of these tariffs so that they're advancing real, strategic priorities of the United States," Singh said at an event hosted by the Washington-based Bretton Woods Committee.

Such a move would maintain tariffs on goods connected to critical supply chains, foundational technologies and national security but reduce duties on things like bicycles, apparel and underwear, he said.

Singh also suggested that the arrangement could have a mutual component, whereby China could move to lift some of its own non-strategic tariffs on U.S. imports given Beijing's "very serious supply chain concerns" caused by the economic fallout of its zero-COVID strategy.

Along with a host of other China-related measures, U.S. President Joe Biden's administration has largely kept intact the approach to trade with China it inherited from former President Donald Trump, including the tariffs on some $300 billion worth of Chinese imports.

Apart from some targeted exemptions the Biden administration reinstated in March, a proactive, strategic cut in tariffs such as those mentioned by Singh would be the first substantial US effort to narrow the trade war's scope.

Powell reinforces expectations of sharp rate hike next month
Powell reinforces expectations of sharp rate hike next month
2022-04-22 10:01  |  World

There is appetite among U.S. lawmakers for a reduction in tariffs, including from Republicans.

At a House Ways and Means Committee hearing with U.S. Trade Representative Katherine Tai last month, Representative Chris Smith, a New Jersey Republican, said: "An important aspect of effective policies to address China's non-market and unfair trade practices is regular review of any tariffs imposed on imports from China to make sure that they are serving their intended purpose."

He also called on the U.S. Trade Representative's Office to offer exemption applications for all tariffs.

Tai acknowledged at that hearing that it was time to "turn the page on the old playbook" when it came to confronting China, saying it was clear that Beijing did not intend to make any "meaningful reforms" to address long-standing U.S. concerns about its economic model.

Talks with China about the "phase one deal" it signed with the Trump administration in 2020 have been "unduly difficult," said Tai, adding that the U.S. should not "wait for China to change."

Instead, she said, the U.S. should focus on bolstering its competitiveness by strengthening domestic manufacturing, investing in sectors such as clean energy and incentivizing companies to source American-made goods.

The Biden administration believes Chinese President Xi Jinping's growth strategy is likely to remain underpinned by a focus on state-owned enterprises and continued deployment of government subsidies, Singh said Thursday.

But even as he indicated some potential for a mutual reduction in tariffs, Singh said that Beijing appeared willing to take strategic risks as Xi sought to "achieve supremacy, primarily through economic and technological primacy," citing comments by Chinese officials about the decline of Western democracies.

That was not necessarily a bad thing, said Singh, pointing to the potential for a "race to the top" that could spur indigenous innovation, public investment and workforce deployment. "But no doubt it's also going to involve economic frictions," he said.



 
Top 10 Stories
1Discussions on raising age for free subway rides gain momentum Discussions on raising age for free subway rides gain momentum
2US reaffirms nuclear security assurances to South KoreaUS reaffirms nuclear security assurances to South Korea
3Will KT, POSCO replace CEOs as Shinhan, Woori did? Will KT, POSCO replace CEOs as Shinhan, Woori did?
4William Franklin Sands' diplomatic and undiplomatic views of late Joseon William Franklin Sands' diplomatic and undiplomatic views of late Joseon
52-year work experience prerequisite unnecessary for foreign shipyard welders 2-year work experience prerequisite unnecessary for foreign shipyard welders
6President Yoon at odds with politician who helped him win election President Yoon at odds with politician who helped him win election
7LG publishes Korea's first group-level net zero report LG publishes Korea's first group-level net zero report
8Conflict reignites over relocation of POSCO Holdings to Pohang Conflict reignites over relocation of POSCO Holdings to Pohang
9Hyundai Motor's technology helps team become WTCR double champion Hyundai Motor's technology helps team become WTCR double champion
109 fishermen, including 2 Vietnamese, missing in boat incident 9 fishermen, including 2 Vietnamese, missing in boat incident
Top 5 Entertainment News
1Kim Da-mi, Jeon So-nee team up for coming-of-age film 'Soulmate'Kim Da-mi, Jeon So-nee team up for coming-of-age film 'Soulmate'
2Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'
3'Ant-Man 3' promises bigger, better action with same family dynamic: cast 'Ant-Man 3' promises bigger, better action with same family dynamic: cast
4[INTERVIEW] Disney+ 'Big Bet' director on portraying greed and desire INTERVIEWDisney+ 'Big Bet' director on portraying greed and desire
5TXT, Le Sserafim top Oricon album and singles chart TXT, Le Sserafim top Oricon album and singles chart
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group