Biden Is Reportedly Considering Lifting Trump-Era Tariffs on Chinese Goods. Could That Help Tame US Inflation?

“Strong pressure is coming from US labor unions to continue the tariffs, fearing job losses due to increased outsourcing of manufacturing to China,” says Doug Barry, an official at the non-profit US-China Business Council, which represents about 200 companies that trade and do business with China. But he adds that there is evidence that the tariffs have actually caused domestic job losses in some industries. “Weakened demand for China imports means less economic activity generated by those imports: fewer truck drivers, salespeople, accountants, and less tax revenue for local governments where the US companies do business,” he says.