US business groups urge reducing tariffs on Chinese goods amid rising inflation pressures

About two dozen US business associations have urged the Biden 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 US businesses, farmers, workers and families," the business associations, led by the US-China Business Council, said Friday in a letter to US Trade Representative Katherine Tai and Treasury Secretary Janet Yellen. American importers have paid over $110 billion for the so-called "Section 301" tariffs on Chinese goods, of which about 40 billion dollars has been assessed during the Biden Administration, according to the letter.