President-elect Joe Biden speaks as Vice President-elect Kamala Harris listens at left, during an event to introduce their nominees and appointees to economic policy posts at The Queen theater, Tuesday, Dec. 1, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)
President-elect Joe Biden and Vice President-elect Kamala Harris arrive at an event to introduce their nominees and appointees to economic policy posts at The Queen theater, Tuesday, Dec. 1, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)
In this Monday, Nov. 10, 2014, file photo, Neera Tanden, president of Center for American Progress, speaks during an introduction for New Start New Jersey at NJIT in Newark, N.J. President-elect Joe Biden is expected to name several of his most senior economic advisers in the coming days. Tanden could be one of those named. (AP Photo/Mel Evans, File)
Janet Yellen, who has been is nominated by President-Elect Joe Biden to serve as Secretary of the Treasury, arrives for an event with Biden at The Queen theater, Tuesday, Dec. 1, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)
President-elect Joe Biden speaks Wednesday, Nov. 25, 2020, in Wilmington, Del. (AP Photo/Carolyn Kaster)
Neera Tanden who President-elect Joe Biden nominated to serve as Director of the Office of Management and Budget listens as Biden speaks at The Queen theater, Tuesday, Dec. 1, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik)
In this Aug. 14, 2019, file photo, former Fed Chair Janet Yellen speaks with Fox Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. President-elect Joe Biden is expected to name several of his most senior economic advisers in the coming days. Yellen could be one of those named. (AP Photo/Andrew Harnik, File)
President Donald Trump, returning from a campaign rally in Tulsa, Okla., walks across the South Lawn of the White House in Washington after stepping off the Marine One helicopter, early Sunday, June 21, 2020. (AP Photo/Patrick Semansky)WASHINGTON (AP) — The Latest on President-elect Joe Biden (all times local):
9:25 a.m.
President-elect Joe Biden says he won’t immediately lift tariffs placed by President Donald Trump on many imports from China or break Trump’s initial trade deal.
Biden says he wants to maximize his leverage in future talks with the United States' geopolitical rival.
Speaking to New York Times columnist Thomas Friedman, Biden said, “I’m not going to make any immediate moves, and the same applies to the tariffs.” Biden adds in Friedman's column published Wednesday: “I’m not going to prejudice my options.”
Under Trump, the U.S. and China engaged in a yearlong trade war that has been largely frozen since a Phase One deal was reached in January. While some industries have benefited from Trump’s protectionist policies, the policies have been largely panned by the business community and most experts — and most of the cost of tariffs has been borne by American businesses and consumers.
Biden tells Friedman an early priority after his January swearing-in will be to restore relationships with allies to strengthen his negotiating position with China. Biden says key to talks with China is “leverage” and in his view "we don’t have it yet.”
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HERE'S WHAT YOU NEED TO KNOW ABOUT PRESIDENT-ELECT JOE BIDEN'S TRANSITION TO THE WHITE HOUSE:
President-elect Joe Biden’s Cabinet picks are quickly running into the political reality of a narrowly controlled Senate that will leave the new Democratic administration dependent on rival Republicans to get anything done.
Read more:
— Ron Klain brings decades of DC experience to Biden White House
— Trump threatens defense veto over social media protections
— Disputing Trump, Barr says no widespread election fraud
— Senate GOP leader sticking with partisan COVID-19 relief plan
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