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The Washington Post published op-ed warned on Thursday that President Biden’s consideration of removing President Trump’s Chinese tariffs would be a significant mistake.
The article, titled “Biden May Be on the Edge of Making a Mistake with China,” warns that it would be “irresponsible” and a “huge political loser” for the Biden administration to abandon Trump’s Chinese tariffs.
“The purpose of President Biden’s five-day trip to South Korea and Japan is to show that the United States is committed to the region and to stand up to China,” wrote columnist Josh Rogin.
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US President Joe Biden listens while meeting virtually with Xi Jinping, the Chinese president, in the Roosevelt Room of the White House in Washington, DC, Monday, November 15, 2021 (Photographer: Sarah Silbiger / UPI / Bloomberg via Getty images)
“But some US officials and business interests are calling on Biden to give Beijing a huge, undeserved economic concession, saying it will help the US economy. Such a step would be a mistake in the political, economic and relations between the United States and China, “Rogin continued. . “Given the dire effects of rising prices on data from Biden’s polls at home, it’s no wonder the president is looking for ways to tackle the inflation crisis.”
Rogin said the Biden administration is facing pressure from Treasury officials, Wall Street and the business community to remove tariffs. However, national security officials are worried that this will give too much leverage to China.
“The internal administrative battle has already spread in the public sphere, with the Ministry of Finance supporting the abolition of some tariffs, and parts of the National Security Council and the Office of the US Trade Representative opposed. Biden is expected to make a decision soon.
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US President Joe Biden disembarks from Air Force One on arrival at Osan Air Force Base in Pyongyang, South Korea, Friday, May 20, 2022 (AP Photo / Lee Jin-man, Pool)
Rogin writes that Trump’s tariffs are not the cause of inflation, citing data from the Bureau of Economic Analysis.
“The battle for internal administration has already spread in the public sphere, with the Treasury Department supporting the abolition of some tariffs, and parts of the National Security Council and the Office of the US Trade Representative opposed. Biden is expected to decide soon,” he wrote. . “The data from the Bureau of Economic Analysis support the argument that eliminating some of these tariffs would have a small, if any, measurable effect on inflation. The benefits to consumers are illusory.”
As Biden goes to Asia to promote economic relations with countries in the region, Rogin says Biden is raising tariffs on China now “sending the wrong message to the region at the wrong time.”
Rogin equates raising tariffs on China to “surrender in the fight against China’s unfair economic practices.”
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Rogin criticized Biden for potentially violating “his previous promise not to unilaterally raise tariffs unless China’s behavior improves.”
“As China’s economy struggles under the volatile policies of its dictatorial government, Washington must help American companies leave China, not help them enter. “We need to do more to counter China’s economic aggression, no less.” The good news: There’s still time for Biden to avoid this stupid penny and pound idea.
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