Tariffs on China and Canada exacerbate inflation in the United States.

Xinhua News Agency, Washington, June 27th (International Observation) Tariffs on China and Canada exacerbate inflation in the United States.

Xinhua News Agency reporter Xiong Maoling

US President Biden said recently that the White House is discussing whether to cancel the Trump administration's tariffs on Chinese -American transit goods. Given that the United States has faced the worst inflation in the past 40 years, many people of insight have called for the Bayeng government to cancel tariffs on China to suppress inflation and reduce the pressure of the people. However, analysts pointed out that in order to win the advantage in the mid -term elections of the Congress in November, the fighting between the United States and the Republican parties exacerbated, which caused the White House to make a chess chess in the previous government's mistakes and the people in the industry and the public.

High inflation has caused widespread blame

According to data from the US Department of Labor, the US Consumer Price Index (CPI) has increased by eight consecutive months higher than 6%, and has increased by more than 8%year -on -year in the past three months.

Wells Fargo Senior Economist Sam Brad told reporters from Xinhua News Agency that food and gasoline prices are still rising, at least in the next few months, no signs of inflation can be seen.

The US government is facing domestic public opinion's questioning and criticism of its economic policies. The Wall Street Journal commented that the current inflation is "foreseeable" and is caused by excessive financial stimulus policies and loose monetary policies.

According to a report released by the Poye Research Center in May, 70%of the American people believe that inflation is a "very big problem." The "Political News" released a few days ago-Morning Consulting Company Joint Police Survey shows that about 40%of the US people believe that US government policies should have a "big responsibility" in response to high inflation.

In terms of inflation, there are not many tools available to the US government. Former US Treasury Secretary and Harvard professor Summer previously pointed out that it is more important and effective to reduce inflation by canceling tariffs to reduce inflation than antitrust and meat prices proposed by the White House.

The National Committee of the United States and China Trade stated that "no reason" maintains tariffs on China, which is a "unnecessary tax" imposed on American consumers and companies. The American people are dissatisfied with the continuous rise in inflation, and cancellation of tariffs as soon as possible is one of the ways to reduce prices.

Canceling tariffs can be solved "urgent urgent"

Although the Fed has accelerated the tightening of monetary policies and walked fast on interest rate hikes and "shrinking", U.S. inflation has not been significantly relieved. Economists believe that inflation has continued to make the Fed's monetary policy "getting steel wires" increasing, and the risk of economic recession in the United States has intensified. In this context, some White House officials, business people, and economists have called for reduction or cancellation of tariffs on China in order to unconscious inflation.

US Treasury Minister Yellen said in an interview with the US Broadcasting Corporation that the inflation rate was "unacceptable" and dropping inflation is "the first task". She said that the additional tariffs were "inherited" from the previous government. Some tariffs did not achieve strategic purposes, and consumer expenditure was increased. The government is considering adjusting some tariffs.

The Peterson Institute of International Economic Research recently reported that if the Trump administration's tariffs imposed on China's exported products and steel tariffs imposed by "national security", the U.S. inflation rate can be reduced by about 1.3. percentage point.

The reporter of the report and senior researcher of the Peterson Institute of International Economic Research, Gary Hev Bauer, said in an interview with Xinhua News Agency that the cancellation or reduction of tariffs on China can help reduce the price of imported products, which also means American companies, which also means that American companies Faced with more competition, it will promote its slowdown in price, which will help reduce inflation levels and stabilize inflation expectations, which is particularly important at present.

The former US Ambassador to Singapore David Adelman pointed out in an interview with the US Consumer News and Business Channel that Trump administration's tariffs on China and Canada are economically in vain. economy. The cancellation of tariffs on China and Canada will help relieve inflation pressure and restore the public's confidence in the economy.

Hesitating to be trapped in the predicament of the party

Faced with the increase in inflation pressure, the cancellation of tariffs on China and Canada has become one of the few feasible and effective options in the US government policy toolbox, but the White House has not made a decision. Analysts believe that the US government's misjudgment of inflation in the early stage has led to the severe inflation situation today. With the increasingly closer election of Congress, the issue of trade with China is even more politicized. If the Bayeng government does not respond to the industry's voice as soon as possible, it will continue to raise chess on the cancellation of tariffs on China and Canada. The deeper in China.

The cancellation of tariffs on China is related to the interests of the United States, but has been abducted by the party to a certain extent, becoming a political calculation issue for democracy and republics to focus on elections.

The Republican Senator of Missouri, Josh Holy, recently claimed on social media that "it is not a time to Chinese hands" and was ironic by netizens. A netizen left a message and said, "(Tariff) is exacerbating inflation, you complain about inflation, and when they try to alleviate inflation (by canceling the tariffs), you complain." Another netizen commented: "We need to do it The best thing for the country, not for a political party, don't play games anymore. "

Former members of the United States and Democratic Party, the personality of the Democratic Party, Leg Casak told the Xinhua News Agency that in the context of the mid -term election, Republican candidates are even more biased to the right and more extreme than the current members of Congress, while the Democratic Party candidates are unwilling to be willingIt is deemed to be "weak" and thus feel resistance in doing "correct things".Hefbauer also admits that considering the current political situation and cutting or canceling tariffs on China, some members may cause some members to criticize the Bayeon government's "weakness" for China."I think this will prevent them from doing the right thing and doing things that are beneficial to the US economy. But I hope they can do this."

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