The changes could include a suspension of tariffs on consumer goods including clothing and school supplies and setting up a way for importers to request waivers on the import taxes, according to the report, which cited unidentified people familiar with the matter.
The offshore yuan rose as much as 0.3% to 6.6807 per dollar, the strongest in a week, after the report. The Australian dollar extended gains following the report, climbing 1% versus the US dollar to 0.6884. The New Zealand dollar tracked the Aussie higher, rising 0.9% to 0.6250. Biden’s administration is weighing what to do about former President Donald Trump’s tariffs on hundreds of billions of dollars worth of imports from China, which is both its biggest trading partner and most powerful competitor. While some businesses have benefited from protection from Chinese imports, those that use the goods as inputs in areas including manufacturing have been hurt by the price rises.
Officials in the Biden administration appear to be divided over the tariffs. US Trade Representative Katherine Tai told a Senate hearing recently that the tariffs are a “significant piece of leverage.” Those comments contrast with Treasury Secretary Janet Yellen, who said in June that the tariffs have hurt American consumers and businesses and are contributing to the fastest inflation in 40 years.
US is so fickle.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom to implement Stage 6 rolling blackouts from Monday afternoon - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom says Stage 6 rolling blackouts will be implemented from 16:00 on Monday afternoon, with varying stages of power cuts during the week. Because of André de Ruyter's incompetence Thanks for restoring my happiness in my darkest days, during those period I invested $500 and to my greatest surprise I got a return of $5,500 in just seven days he's reliability can't be equated BernardMason07 Jizas
Source: SABCNews - 🏆 37. / 51 Read more »
Business Maverick: UK told poorest are ‘brutally exposed’ to cost of living crisisThe poorest families in the UK were left “brutally exposed” to the cost of living crunch after almost two decades of income stagnation, the Resolution Foundation has warned.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Iran slashes the cost of its oil to compete with Russia in ChinaIran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. There’s still the rest of the world. A little healthy competition is good for us There is no greater joy than having financial freedom and a life free of debts,that’s why l keep posting comments about AdamTrey01 who guided me through trading online.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Record green financing in Europe is still nowhere near enoughIn order to hit climate neutrality by 2050, Europe will need to spend as much as €1-trillion each year, the EU Commission estimates. A new report suggests Europe is still far behind – but well ahead of other regions. This is nothing else but the destruction of Europe. Using 'climate change' as an excuse to hobble it's economy while at the same time sucking the wealth of it's people out through taxes and licence fees. There is a war against the West and it's enemies are within!
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Developers claim algorithm predicts crime in US cities before it happensSocial scientists at the University of Chicago have developed a tool that uses historical data on violence and property crimes to predict future events. They had this for a while but it was considered racist. They then had to go back to the drawingboard to tweak the algorithm which lead to this, version 2.0. More in tune with political and corporate woke sentiment. Clearly these scientists have not seen minority report.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Bruised Emerging Markets Are Battle-Ready for a US RecessionEmerging markets are well positioned to stare down a US recession and may even be able to lure investors their way.
Source: dailymaverick - 🏆 3. / 84 Read more »