Search ForexCrunch

US Trade Representative (USTR) Robert Lighthizer has advised the Biden administration to keep tariffs on China even if that raises prices for consumers and businesses in the US, The Wall Street Journal (WSJ) reported on Monday.

Lighthizer also urged the incoming administration to weaken the World Trade Organization so that it cannot overrule US policies, the WSJ’s Bob Davis further noted.

Market reaction

This headline doesn’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Futures were down 0.51% on the day at 3,798.