(PatrioticPost.com)- The White House is considering lifting tariffs on China as part of its floundering attempt to fight inflation. But on Monday, Commerce Secretary Gina Raimondo admitted that there was no guarantee the Biden administration will get anything in return from China if the United States does relax tariffs.
In an interview with Bloomberg TV on Monday, Raimondo was asked by co-host David Westin if lifting tariffs on China would be bilateral. He wanted to know if it was possible China might give the US something in exchange “to try to reformulate our trade relations.”
Raimondo said it was certainly possible and was part of their discussions, but she couldn’t say for sure if China would reciprocate.
She added that if China doesn’t reciprocate immediately, it would be something the White House would pursue “just in the interest of … fairness.”
Yes, because we all know China wants to play fair.
These people are deeply naïve.
But the priority isn’t getting China to reciprocate, Raimondo added. She said Biden’s priority is fighting inflation because it is “the number one thing on the minds of Americans.”
She said the president told his team that he wanted to know every possible option to provide relief. And that’s why Biden is considering lifting tariffs on China.
Ironically, in an interview on NBC’s “Meet the Press” the day before, Raimondo admitted that lifting tariffs on China won’t do anything to lower “top-line inflation in a very significant way.”
So why bother?
Why benefit China’s economy when the net benefit to Americans will ultimately be insignificant?
According to the Financial Times, most economists believe the president’s lame efforts to provide relief to consumers and businesses will have little impact on inflation or could, in some cases, make the problem even worse.