US Commerce Chief Says Lifting Tariffs on Goods May Make Sense

The video discusses the potential lifting of Trump-era tariffs to combat rising inflation, as suggested by US Commerce Chief Gina Raimondo. While some tariffs on steel and aluminum remain for national security, others on household goods might be lifted. Bloomberg's Jean Chen provides insights into the ongoing discussions and challenges, including conflicting views among US officials and the impact of COVID lockdowns in China. The Biden administration faces the challenge of balancing inflation control with trade negotiations.

Why does the U.S. decide to keep tariffs on steel and aluminum?

• To reduce inflation

• To protect American workers and national security

• To increase import costs

• To support international trade

What is one of the main challenges for the Biden administration mentioned in the video?

• Trade deficits with Europe

• Decreasing GDP growth

• Rising inflation affecting households

• Increasing unemployment rates

What potential benefit is mentioned regarding the removal of some tariffs?

• Enhancing diplomatic relations

• Boosting export levels

• Reducing inflation rate

• Increasing government revenue

What is the stance of the U.S. Treasury Secretary on tariff removal?

• Maintaining current tariff levels

• Open to rolling back some tariffs

• Complete removal of all tariffs

• Increasing tariffs on all goods

What is the role of tariffs according to the U.S. trade representative?

• A tool for increasing domestic prices

• A leverage in negotiations with China

• A method to decrease inflation

• A way to boost local manufacturing