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Biden instructed his administration to analyze the possibility of lifting higher duties on imports from China, - CNN

This is necessary to curb record-breaking inflation, said U.S. Secretary of Commerce Gina Raimondo.

According to her, the elimination of duties on imports of consumer goods could be good for the U.S. economy. However, steel and aluminum tariffs imposed during Donald Trump's presidency are likely to remain in place.

Joe Biden wakes up and goes to sleep thinking about what can be done to stop inflation, Raimondo also noted.

U.S. Commerce Secretary Raimondo: The semiconductor deficit is likely to continue through 2024.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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