Pressure is growing on Biden to lift Trump's tariffs as supply chain problems worsen

[sarisataka]

Pressure is growing on Biden to lift Trump's tariffs as supply chain problems worsen

There's a quick move President Joe Biden could make to immediately help relieve the stress the pandemic-related supply chain crisis is having on US companies: Lift the tariffs imposed by former President Donald Trump.

Trump put tariffs on roughly $350 billion of Chinese-made goods -- and despite the change in administrations, those duties remain in place. American importers have paid more than $106 billion to cover the cost of those levies to date, and many of them are now facing skyrocketing shipping costs.

While the Biden administration has been conducting a comprehensive review of the US-China trade policy, it has said little about restarting trade talks or lifting punitive duties.

Now the pressure on the Biden administration to address the issue is ramping up, as supply chain problems are getting worse -- resulting in shortages and higher prices for everything from sneakers to furniture to cars.

https://www.cnn.com/2021/10/03/politics/global-supply-chain-collapse-biden-tariffs/index.html
It shouldn't be difficult

[Wicked Blue]

1. How will this solve the pileup of cargo ships at the seaports?

Wouldn't importing more foreign goods vastly increase the number of cargo ships waiting to be unloaded? Right now some places have 40-plus ships waiting.

[sarisataka]

4. It's not about the ships

It's about continuing to pay a tax for Trump's trade war

[Bev54]

2. From what I see on NBC it has a lot to do with the cargo ships

being unable to get into ports to unload the ships, sitting for weeks waiting to get in, with thousands and thousand of cargo containers. This increases the price of goods because it is costly to have these ships waiting to unload. Over 60 very large ships waiting off shore in LA and Long beach and 15 off shore of Seattle. Demand is up so orders were made but all the supplies are coming at once, so it will likely improve once they get through this backload.

[sarisataka]

3. Bottlenecks such as ports

Will always slow commerce and add to the cost.

A tariff always increases cost regardless of other factors. And unlike the story Trump spun, China is not paying the tariff cost, we are.

[Bev54]

5. I don't disagree but the bottlenecks are also increasing prices because it costs

money for those ships just to sit out there for weeks on end.