Biden says White House could drop Trump China tariffs to lower consumer prices

President Joe Biden said that cooling prices are his top domestic priority, even as Wall Street braces for another inflation report north of 8%.

The president also said that the White House is in the middle of a review of tariffs imposed against China during former President Donald Trump’s tenure and could opt to drop them.

Wall Street is eager to read the Labor Department’s upcoming report on April inflation , which the government will publish Wednesday morning at 8:30 a.m. ET. $S&P 500 index(.SPX.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Nasdaq Composite Index(.IXIC.US)$ $ProShares UltraPro Short QQQ ETF(SQQQ.US)$ $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US)$