Biden not lifting China tariffs ‘won’t help our economy,’ Wolfpack Research CIO warns
Biden’s making US ‘beholden’ to China, Dan David stressed
Wolfpack Research founder and CIO Dan David argues Biden not lifting tariffs on China won’t help the U.S. economy in the ‘long term.’
Wolfpack Research founder and CIO Dan David joined "Mornings with Maria," Tuesday, arguing that Biden not lifting tariffs on China "won’t help our economy" in the "long term."
DAN DAVID: I think it's a terrible idea, and everybody around President Biden thinks it's a terrible idea. Even senior leadership are saying that we should not be lifting these tariffs. But he seems…just bent on making sure that China is happy, and I don't think it's going to help our economy either. Certainly not in the long term.
Wolfpack Research founder and CIO Dan David told FOX Business that Biden not lifting tariffs on China won’t help the U.S. economy in the ‘long term.’ (Getty Images / iStock / Getty Images)
Any short-term bump you get from lifting these tariffs really puts us back in the same situation where we're not in control of our own supply chain. We're beholden to China rather than diversifying to other East Asian countries like Vietnam. This is the time to do this, to diversify, not to lift these tariffs. It was the one thing I thought he was really doing well on foreign policy there was keeping the Trump policies in place and the tariffs in place.
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Wolfpack Research founder and CIO Dan David says U.S. should ‘diversify’ to other countries and be less dependent on China.