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Biden Says He’ll Review Trump’s China Tariffs, Fueling Yuan Rally

  • Biden says will talk to Yellen about tariffs on China imports
  • Offshore yuan extends gain, jumps to highest in over two weeks
Joe Biden departing Osan Air Base in Pyeongtaek, South Korea, on May 22.

Joe Biden departing Osan Air Base in Pyeongtaek, South Korea, on May 22.

Photographer: Lee Yong-ho/Sipa/Getty Images

Bloomberg News
Updated on

US President Joe Biden said he’ll review Trump-era tariffs imposed on imports from China amid growing calls from businesses to remove the levies, fueling a rally in the offshore yuan.

Biden said he’s considering removing some of the tariffs and would talk with Treasury Secretary Janet Yellen about it after returning to the US from Asia. “We did not impose any of those tariffs -- they were imposed by the last administration,” he said at a press conference in Tokyo Monday.