The U.S. would be ‘wise’ to cut tariffs on China, says former trade negotiator
Higher U.S. tariffs on Chinese goods hurt American businesses and consumers, and it would be “wise” to cut those levies, a former American diplomat and trade negotiator said Thursday.
If both countries were to reduce tariffs on each other, their relationship could improve, said Frank Lavin, a former U.S. ambassador to Singapore and undersecretary of Commerce for international trade.
He told CNBC that a “mutual reduction” in tariffs would also allow the U.S. to address longstanding concerns about China’s trade practices.
Lavin was asked what advice he would give to the Biden administration on its policy toward China.
“I would say don’t step away from the issue, there’s some serious trade issues there and I think a lot of President Trump’s criticisms were valid so don’t drop that agenda,” Lavin, now chief executive and founder of consultancy Export Now, told CNBC’s “Street Signs Asia.”
“But I do think that in the same breath it would be wise to remove the tariffs because the tariffs hurt American businesses, American consumers, American workers just as they hurt the Chinese economy,” he added.
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