from TeleSUR English, published November 15, 2021
U.S. President Biden released 50 million barrels of oil from the U.S. Reserves just before Thanksgiving, ostensibly to reduce inflation. Of course rising gas prices do add to inflation but that is not the whole story. The graphs in this article are really interesting.
I suppose you could call this article ‘foreign’ propaganda…. but, the facts speak for themselves. [jb]
“For the sake of Americans everywhere, it is time to bring the trade war with China to an end,” Americans for Free Trade spokesperson Jonathan Gold said.
In a letter to U.S. Trade Representative Katherine Tai and Treasury Secretary Janet Yellen, about two dozen U.S. business associations led by the U.S.-China Business Council (USCBC) urged President Joe Biden’s administration to reduce tariffs on Chinese goods to provide relief to Americans amid rising inflation pressures.
“Tariffs put in place over the last several years continue to disproportionately cause economic harm to U.S. businesses, farmers, workers and families,”
the USCBC said, adding that U.S. importers have paid over US$110 billion for the so-called “Section 301” tariffs on Chinese goods, of which about US $40 billion has been assessed during the Biden Administration.
US-China trade war tariffs pic.twitter.com/AbN1DEBV1M
— Metal parts Fabricator, Data Center Cabinet Assy. (@MetalFabricator) November 25, 2021
“These costs, compounded by other inflationary pressures, impose a significant burden on American businesses, farmers and families trying to recover from the effects of the pandemic… We agree with Secretary Yellen’s recent comments that tariffs tend to increase domestic prices and raise costs to consumers and businesses due to higher cost inputs and that lowering U.S. and Chinese tariffs could help ease inflation,”
the letter said, urging the Biden administration to work toward removal of the Section 301 tariffs on Chinese goods.
“We also request immediate action to significantly broaden the tariff exclusion process to provide additional relief to Americans,” the USCBC pointed out.
US inflation data, as they used to be measured. The image below provide the current inflation figures for how they used to be measured, probably more useful than the over tinkered bag they currently use. https://t.co/1NqyGSV5mM pic.twitter.com/vULOuMVrd1
— ItsInTheChart (@dannymohar) November 15, 2021
Among the business associations that signed the letter are the U.S. Chamber of Commerce, the Business Roundtable, the National Retail Federation, American Farm Bureau Federation and the Semiconductor Industry Association.
Americans for Free Trade, a coalition of more than 150 industry associations that are united in the fight against tariffs, has also recently urged the Biden administration to remove tariffs on imports from China amid continued concerns over inflation.
“As our nation continues to face concerns over rising prices and supply chain obstacles, it is time for Ambassador Tai and other members of the Biden administration to recognize that leaving the previous administration’s failed trade policies in place will only make the problem worse,” Americans for Free Trade spokesperson Jonathan Gold said in a statement earlier this month.
“For the sake of Americans everywhere, it is time to bring the trade war with China to an end,”
he stressed.
Last but not least, a final jab [jb]:
#China is ‘saving the world from the #UnitedStates’#TradeWar pic.twitter.com/VJ2iAnbusw
— teleSUR English (@telesurenglish) August 30, 2019
*Featured Image: People shop in a grocery store in Washington, D.C., U.S., Nov. 10, 2021. | Photo: Xinhua