White House Wants to Fight Bidenflation by Rewarding China

A president desperate to bring inflation down to bolster his party’s chances in November is eyeing a new scheme. The Biden administration held talks with China this week about rolling back tariffs to flood the U.S. with more cheap imports.

And even many in his own party are slamming the move to reverse Trump-era duties that protect American workers.

Opposition to ditching these tariffs is building in Washington. The U.S. Trade Representative’s office by Tuesday night had over 400 requests to keep the tariffs in place. Even inside the White House, the debate is reportedly blistering.

A committee of 24 labor unions as wide ranging as the AFL-CIO and the Airline Pilots Association urged leaving the measures undisturbed. Remember, Biden calls himself the strongest union supporter to ever occupy the White House, but talks are ongoing anyway.

The Treasury Department said Secretary Janet Yellen and China’s Vice Premier Liu He held a productive trade call Monday night. Multiple reports say the easing of duties to lower the price of Chinese imports may come as soon as within a week.

Both sides acknowledged severe global economic challenges and their desires for better cooperation between the U.S. and China. The Asian giant is enduring many hardships in 2022, some of which are self-inflicted.

Its zero-COVID policy practically shut down large sectors of China’s economy as the communist government enforced total lockdowns and expansive quarantines.

Yellen, who at times shows an alarming lack of understanding of the financial system, reportedly voiced concerns about China’s “unfair, non-market” economic policies. A tyrannical communist regime that does not play fair or recognize basic market principles. Who knew?

Just how expansive Biden is willing to go with lifting tariffs is unclear. Multiple reports say he is considering action on as little as $10 billion in goods, a miniscule portion of the roughly $370 billion imposed by the Trump administration.

The lack of strong leadership at home and sensible economic and energy policies has the most powerful nation on Earth scrambling for help. Whether it’s pleading with Middle Eastern despots for oil or backtracking on sensible duties on China, the U.S. is playing with a weak hand.