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Biden Could Roll Back China Tariffs As Soon As This Week

US
  • Building on earlier headlines from DJ, Bloomberg reports that President Biden may announce a rollback of some US tariffs as soon as this week, but equally that the decision is not final and the timing could slip according to people familiar with the deliberations.
  • It could also come with a new probe into industrial subsidies that could target strategic areas such as technology.
  • Tariff rollback has been in headlines for some time now but appears to be moving closer to a done deal in a bid to quell rampant inflation, following Biden’s weekend tweet urging gas companies to lower their prices.
  • How much impact such moves have on inflation expectations remains to be seen, with long-term market measures having already slid through June back to pre-taper levels as growth concerns rise to the fore.

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