Stay updated with breaking news from Us Tariffs. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
US Treasury Secretary Janet Yellen became the second senior figure to visit Beijing in recent weeks this month, in the latest move to ease bilateral relations, but Washington is still believed to be planning new restrictions on investments in China.
Trade tensions between China and the United States are having an increasingly negative impact on foreign businesses in southern China, a US business lobby says, with many slowing investment as a result.
The requests come as the US is conducting a four-year statutory review of the Trump-era tariffs after the issue was raised during a call between Treasury Secretary Janet Yellen and Chinese Vice-Premier Liu He on Tuesday.
The Biden administration is considering lifting tariffs on Chinese products that former President Trump put in place as part of his trade war with China.
Biden administration needs to balance short-term price reduction goals against the longer-term need to address unfair competition when considering whether to cut tariffs on Chinese good, says deputy US Treasury secretary Wally Adeyemo.