Daily Memo: US Tariffs on Chinese Goods, Russian Weapons in the Kurils

President-elect Joe Biden isn't ready to scrap his predecessor's tariffs on China just yet.

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U.S. tariffs. U.S. President-elect Joe Biden said Tuesday that he won’t quickly do away with U.S. tariffs on Chinese goods – and rather that his immediate priority is to get U.S. friends and allies in Europe and Asia in alignment on the matter. We expect the Biden administration to move away from blanket tariffs as a core tactic against China in due course; they’re mostly ineffective and are hampering the U.S. economic recovery. But it makes sense to see what you can get at the negotiating table first. And U.S. partners in the region that are benefiting from trade diversion and supply chain shifts aren’t in a rush to see them repealed. Russia in the Kurils. For the first time, Russia deployed the S-300 B4 air defense system on the Kuril Islands. Japan, which challenges the sovereignty of Russia over the four islands of the southern Kuril ridge, criticized the move. Iran’s tempered response. The Iranian government rejected a bill approved by parliament earlier this week that would have suspended U.N. inspections on Iranian nuclear sites and boosted uranium enrichment to 20 percent. Iranian President Hassan Rouhani said the bill would have harmed diplomatic efforts to restore the 2015 nuclear […]

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