Former American Ambassador: Reducing tariffs on China can be reduced by 1%American inflation.

According to the US Consumer News and Business Channel (CNBC) reported on June 20, David Adelman, a US Ambassador to Singapore during the Obama administration, pointed out Chinese tariffs will reduce the domestic inflation rate by one percentage point, restore economic confidence, and may help the election of the party affiliated by Biden.

Source: Visual China

On Monday, Adelman said in the CNBC's "Squawk Box" program that "inflation will be the number one issue in the mid -November election in the United States."

Adelman said: "Although the president's ability to curb inflation is limited, there is an important tool in his toolbox, which is to reduce the pressure of the American economy and the American consumers. A very high tariffs of more than 370 billion US dollars. Many economists believe that over time, (cutting tariffs) may cause residents' consumer price index (CPI) to decrease a full percentage point. It is very meaningful for those. "

According to CNBC, Adelman said that the U.S. tariffs are economically futile and did not create "meaningful" trade benefits for the United States. He said: "I think it should be spoken with facts. (Plus tariffs) not only has no negative impact on the Chinese economy, but has an impact on the US economy. It has the effect on the US economy."

This US media pointed out that with the intensification of domestic inflation and economic recession, more and more economists, political observers, and analysts have called for the Bayeng government to reduce tariffs. Former US Treasury Secretary Larry Summers also expressed a similar point of view the day before, pointing out that cutting tariffs was "correct."

Samer said in the program of the US Broadcasting Corporation (NBC): "Over time, it will reduce the CPI (consumer price index) by one percentage point or more, and cutting tariffs is the right way. I hope the government's government Can find a way to do this. "

Adelman also proposed in the CNBC program that President Biden could sign an administrative order to reduce some specific tariffs without requiring the approval of Congress. He said: "Of course, American consumers will reward him because he does this."

The former American ambassador said: "The reduction of tariffs is not only beneficial to American consumers in the short term, but also over time, it will also help the president to restart US -China relations."

Edit (ZQ)

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