Ex-Trump adviser calls for lifting Trump tariffs on China
New York (CNN Business) Former Trump economic official Gary Cohn is in favor of President Joe Biden lifting some Trump-era tariffs imposed on China to address high inflation.
"These tariffs are adding to the cost of many goods that US consumers are buying," Cohn told CNN.
Cohn, now vice chairman at, is a vocal advocate of free trade and frequently clashed with Trump officials who favored tariffs.
Cohn, a former top executive at Goldman Sachs, announced his departure from the Trump administration in March 2018 after Trump vowed to impose steel and aluminum tariffs.
If we manufacture something here in the United States, we should protect our manufacturers," Cohn told CNN.
"If we don't manufacture something here in the United States, and we're not going to manufacture here in the United States, I don't believe we should put a tariff on it."
Won't solve inflationBiden on Tuesday said he plans to speak to Chinese President Xi Jinping as the US president considers whether to ease some tariffs on China.
"If you get rid of these tariffs, the price of those goods should go down," Cohn said.
Not to mention the fact that China has not lived up to the Phase One trade agreement signed in early 2020.
Asked if rolling back tariffs would reward China for failing to live up to its end of the deal, Cohn pushed back.
'Control our own destiny'Beyond rolling back tariffs, Cohn urged lawmakers to address inflation by investing in US supply chains.
The Senate passed legislation last summer to spend $52 billion on computer chip manufacturing and research in the United States.