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China Backs US Moves on Potential Tariff Reductions

His comments followed a statement by White House press secretary Jen Psaki on Monday that the US is studying the inflationary impact of tariffs


Gao Feng, a Chinese Commerce ministry spokesman, said trade teams from both sides were maintaining communications. Photo: Ministry of Commerce.

 

Cutting tariffs on Chinese goods would be in the interests of US companies and consumers, China’s Commerce ministry said on Thursday.

Gao Feng, a ministry spokesman, said teams from both sides were continuing talks on tariff reduction.

His comments followed a statement by White House press secretary Jen Psaki on Monday that the US is carefully studying the inflationary impact of tariffs imposed by the previous administration of Donald Trump, given a surge in consumer prices.

Earlier, US Treasury secretary Janet Yellen said it was worth considering taking steps to lower US tariffs on Chinese goods given the “desirable effects” such a move could have on lowering US inflation, which has hit 40-year highs this year.

Daleep Singh, US deputy national security adviser, said tariffs imposed during Trump’s presidency may have given the US some negotiating leverage, but served no strategic purpose and China had similar non-strategic retaliatory tariffs in place.

 

  • Reuters, with additional editing by George Russell

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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