The International Monetary Fund urged the Biden administration to remove tariffs on imported steel and aluminum, washing machines, solar panels and other goods from China.
The tariffs imposed by the Trump administration on imports from China have remained in place. The Biden administration also committed to prioritizing US producers in public procurement, strengthening “Buy American” requirements put in place by the previous administration.
The IMF said, “These policies should be reconsidered. Trade restrictions and tariff increases should be rolled back and ‘Buy American’ provisions should be tightly circumscribed and made consistent with the U.S. international obligations.”
It also pointed out investigations into currency-based countervailing duties on China and Vietnam and the inclusion of currency provisions in trade agreements represent a significant risk to multilateral trade and international monetary systems.