Four years after the U.S. imposed tariffs on many imports from China, the Biden administration is set to begin a review to determine if they are still needed. This review provides a much-needed opportunity to evaluate the impact of the tariffs on the U.S., given that families and businesses across America are navigating increased rates of inflation not seen in decades, alongside ongoing supply chain issues that make it more challenging to get the products and services they need at prices they can afford.
The review also comes at a critical juncture for U.S. businesses. It’s now been more than a year since many of the exclusions from the tariffs expired, forcing companies to suddenly pay millions in what are essentially taxes to import the products they need to keep their doors open.
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