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 reduce them, said Frank Lavin, a former undersecretary of Commerce for international trade.
Mutual reduction in tariffs would improve the working relationship between the U.S. and China, said Lavin, who also once served as U.S. ambassador to Singapore.
“And then let’s start tackling some of these trade issues one by one and help China move to world norms,” he added.
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.”
Still, Lavin said the U.S. could hold Xi to his word in pursuing a reduction in tariffs and improved relationship.
“So I’d say if we can just have a mutual reduction in those tariffs, we’re going to have a better working relationship,” said Lavin. “And then let’s start tackling some of these trade issues one by one and help China move to world norms.”
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