Former U.S. President Donald Trump increased tariffs from 10% to 25% on $200 billion Chinese imports in May, 2019. The increased tariffs have cost domestic companies over $1.7 trillion and added $1,300 per year to a single American household spending. Recently, U.S. President Joe Biden is weighing cutting the tariffs but its Trade Representative Katherine Tai strongly opposes it. In this episode of BizBeat, CGTN's Zhu Zhu unveils why this move triggered a hot debate in the White House and discusses the perspectives from both sides.
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