President Biden intends to speak with Chinese President Xi Jinping Thursday as he weighs the reversal of former President Donald Trump’s tariffs on Chinese goods, according to multiple reports.
Biden last spoke to Xi in March. Earlier in November, the men called a three-and-a-half-hour virtual summit — despite ongoing uncertainty over whether first son Hunter Biden still holds a 10% stake in Chinese government-linked investment fund BHR Partners.
Biden advisers have been exploring whether easing Trump’s tariffs could lower consumer prices and reduce the worst inflation since 1981, causing Biden’s approval rating to fall to as high as 33%.
U.S. tariffs on goods imported from China are currently about 19.3% — as opposed to about 3% on goods imported from other countries, according to the Peterson Institute for International Economics.
Trump imposed the tariffs to force a trade deal to reduce what he believes to be unfair practices by Beijing, including government support for businesses. In January 2020, Trump and the Chinese government agreed on a “Phase 1” trade deal to pause the escalating fight.
It’s unclear whether Biden would demand concessions from China if he puts aside Trump-era tariffs.
Though Trump’s tariffs alarmed some free-trade conservatives who said they were a tax on consumers, more Republicans have called for tougher action on China since the COVID-19 pandemic began.
Trump, who is teasing a possible rematch against Biden in 2024, said at a rally in Arizona on Friday that if he regains power he would “blame China for unleashing the virus on the world — it’ll probably cost $50 trillion.” Dollar”.
Handling US-China relations is likely to become a flash point in the next presidential election as Republicans push for tougher policies to punish Beijing for fentanyl exports, which led to a record more than 100,000 deaths last year contributed to drug overdoses in the United States.
Biden will speak with Xi as House Speaker Nancy Pelosi (D-Calif.) prepares to visit Taiwan next month, despite Chinese warnings not to.
The first family has benefited from deals with Chinese government-affiliated companies on at least two separate occasions.
Joe Biden was allegedly involved in his son’s dealings with CEFC China Energy, which The Washington Post reported paid Hunter Biden and his first brother Jim Biden $4.8 million in 2017 and 2018. Hunter Biden’s former business partner, Tony Bobulinski, said he spoke to Joe Biden in May 2017 about the company.
An email dated May 13, 2017 indicated that the “Big One” would receive a 10 percent equity stake in a business entity formed with CEFC. Bobulinski claims the President is the “Big One”.
Emails also show that in September 2017, Hunter Biden asked for a new sign and more keys for an office he rented in the House of Sweden office building in DC. The sign read “The Biden Foundation and Hudson West (CEFC-US)” and the keys were for his father, Jill and Jim Biden, and a Chinese executive named Gongwen Dong. However, a spokeswoman for the agency that oversees the property said the sign was never changed and the keys were not collected.
Hunter Biden also co-founded an investment firm called BHR Partners in 2013, less than two weeks after he flew to Beijing with his father aboard Air Force Two. Hunter introduced Joe Biden to BHR CEO Jonathan Li in the lobby of a hotel in China’s capital. The fund is partially controlled by state-owned companies and enabled a US company to sell a Congolese cobalt mine to China Molybdenum for $3.8 billion in 2016. Cobalt is a key component in electric car batteries.
Hunter Biden’s attorney Chris Clark said less than a week after President Biden’s summit with Xi in November that the first son had divested a 10 percent stake in BHR Partners. Hunter Biden and the White House did not provide any further details as to who might have acquired his stake and for how much money.
Last month, the Daily Mail published a 2018 voicemail in which Joe Biden mentioned a New York Times article about his son’s Chinese business partner – casting further doubt on his 2019 claim that he had “dated” with Hunter Biden. never talked about his foreign business”. .”
https://nypost.com/2022/07/27/joe-biden-to-call-chinas-xi-jinping-over-tariff-repeal/ Joe Biden wants to call China’s Xi Jinping over tariff lifting