A week after it first entered US airspace, the Chinese ‘spy balloon’ was sent crashing into the Atlantic dragging with it nascent optimism for a Sino-US detente
The decision signals a degree of renewed cooperation between the world's two largest economies which are locked in a heated trade and technology war
The Biden administration had been mulling over whether to scrap some tariffs in a bid to ease inflationary pressures in the US
President Joe Biden is unlikely to announce a decision until after he speaks to Chinese leader Xi Jinping - a planned call that is yet to be scheduled, his chief spokeswoman said
Inflation is "scary" and hurting Americans financially but is a complicated issue with many causes, Katherine Tai said in remarks to the Washington International Trade Association
It may make sense to weigh lifting tariffs on products including household goods and bicycles, said Commerce Secretary Gina Raimondo.
Deputy US Trade Representative Sarah Bianchi said Washington would address long-term challenges from China and develop "a tariff structure that really makes sense"
His comments followed a statement by White House press secretary Jen Psaki on Monday that the US is studying the inflationary impact of tariffs
The review is also looking at China's behaviour in global markets, the impact of tariffs on wages, job opportunities and America's competitive edge, but inflation may be a factor for midterm polls.
Deputy national security adviser Daleep Singh said many tariffs imposed during Donald Trump's presidency served no strategic purpose
The move aims to improve "legal system supporting the development of the socialist market economy," said the work report by a standing committee for the National People's Congress
Beijing said it had worked hard to promote its Phase 1 economic and trade agreement and overcame multiple negative impacts