Asia shares trading lower as inflation worries cloud outlook
ABC News
Asian shares are trading lower as worries over inflation temper optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports
TOKYO -- Asian shares were lower on Tuesday as worries over inflation tempered optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports.
Benchmarks fell in Japan, Australia, South Korea and China, although some of the indexes had been higher earlier in the day. Oil prices were lower.
Biden, who announced a new economic and trade initiative with the region while on a visit to Japan, confirmed to reporters that he planned to discuss the issue of punitive tariffs imposed on China during former President Donald Trump's administration with Treasury Secretary Janet Yellen once he returns to Washington.
“I'm talking with the secretary when I get home. We are considering it," Biden said.
