Daiqi: Tariffs to China are a negotiating chip, which has a limited role in suppressing inflation.

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Daiqi: Tariffs to China are a negotiating chip, which has a limited role in suppressing inflation.

2022-06-23 18:07:45 12 ℃

【Text/Observer Network Li Li】

In the case of the Fed's power to inflation, the US President Biden and Treasury Minister Yellen and the Minister of Commerce Raymond Dose intended to promote the relaxation of Chinese tariffs. However, the US trade representative Dai Qi still "singed" with them. On June 22, she issued the latest statement saying: "In my opinion, China's tariffs are an important bargaining chip, and trade negotiaers never give up the chips." Regarding why "China tariffs are not allowed", her explanation is that "the effect of cancellation of tariffs on controlling short -term inflation may be limited."

Bloomberg report screenshots

According to Bloomberg report on June 22, US trade representative Dai Qi answered the issue of "China Tariffs" proposed by Tenna's Republican Senator Bill Hagotti at the Senate Hearing on June 22: "In my opinion China's tariffs are an important bargaining chip, and trade negotiators never give up the chips. "

Daiqi also added that the key challenge of the Bayeon government is to "transform this leverage into a strategic solution to strengthen the competitiveness of the United States and continue to play a role in China to defend the interests of the United States in the global economy."

She acknowledged that tariffs and other trading instruments can help improve the competitive position of the US economy in the medium and long -term, but she is pessimistic that "the effect of cancellation of tariffs on controlling short -term inflation may be limited."

Hearing scene screen

Daiqi stated on May 2 that it can respond to inflation caused by the rise in food and energy prices through the adjustment of currencies, taxes or policies.

"We need to maintain our attention in this larger range," Dai Qi emphasized that the current important thing is to focus on protecting the trade interests of the United States and oppose China's "plan" in important industries such as China.

Daiqi told the senators that she is currently waiting for Biden's reply.

According to Reuters reported on the 21st, sources told Reuters that Biden was intensifying whether the White House discussed whether to cancel a series of tariffs on a series of Chinese products to inhibit inflation, but it was impossible to make a decision before the leader of the Seventh -way Group leader next week.

Sources also revealed that the reduction may be very large, but the scale has not been decided.

According to Reuters, the United States levies a punitive tariff of up to 25%of Chinese goods worth about $ 370 billion in 2018 and 2019 (these years are low -inflation years). The total amount of only about 50 billion U.S. dollars is directly related to the "301 survey of China's‘ stealing 'American technology and intellectual property rights ”claimed by the former President Trump administration.

The US Ministry of Foreign Affairs had issued a statement on the issue of the Chinese Ministry of Foreign Affairs on the “theft of intellectual property rights” and refuted the US fallacy. The United States has continued to blame Chinese on theft of intellectual property rights, but has never had strong evidence.

Sources also said that Biden tended to take actions quickly on the tariff issue, and hoped to use all means before the mid -term elections on November 8 to cool down the prices caused by domestic inflation.

Dai Qi's remarks on June 22 showed that she was still unremittingly pushing Biden to maintain a tariff leverage on China. She did not seem to want the outside world to hug the "swelling action" of Biden. "Inflation stress will eventually fade, but the United States will still face long -term strategic challenges of economic policies dominated by the Chinese country."

Bloomberg noticed that Daiqi compared with US Treasury Minister Yellen's earlier remarks this month. Yellen said that tariffs have hurt American consumers and companies and led to the fastest inflation over 40 years. Yellen also pointed out that cutting tariffs can help reduce prices. Yellen also claimed that some tariffs on Trump had "had no strategic significance" during the Trump period.

Minister of Commerce Gina Raimondo also said earlier this month that the cancellation of tariffs on some commodities as a way to suppress inflation "may be meaningful."

"One day we will find ourselves on the other side of these challenges. I think it is very and very important that what we do now cannot destroy our needs, that is, in a global system to make ourselves more competitive and defend us In the past few decades, this system has weakened our leadership position in many and many different economic fields, "Daiqi said on June 22.

"South China Morning Post" pointed out on the 22nd that Daiqi's office's budget for fiscal 2023 was $ 76.5 million, an increase of $ 6.5 million over the previous year.