Yahoo Finance’s Rick Newman joins the Live show to discuss the one inflation-fighting move that President Biden is not pursuing as well as the documents found at former President Trump’s Mar-a-Lago home.

Video Transcript

[AUDIO LOGO]

JARED BLIKRE: Welcome back. Inflation remains a pain point in the US economy as the Biden administration and Federal Reserve officials continue their best efforts to rein it in. However, there is one way to reduce inflation Biden seems to be letting pass by. Joining us now for more on this is Yahoo Finance's senior columnist Rick Newman. And what's the latest in this Mar-a-Lago saga, Rick?

RICK NEWMAN: Well let's talk about inflation first. So nobody noticed this, but last Friday, which was the Friday before Labor Day, the US Trade Representative put out an opaque release saying, basically, we are leaving the Trump tariffs on Chinese imports in place.

Now, this was a big deal for a while. There were some murmurs out of the White House that they may repeal or limit some of those tariffs. And that's-- and that's important because there was some research from the Peterson Institute earlier this year that said, if you repealed all those tariffs, you would actually help bring inflation down a little bit. Not by a ton.

But this is when inflation was looking like it might hit 10%. And the Biden White House was desperate to do anything to show it was trying to do something about inflation to actually get inflation down. So they have now basically said, eh, we're not doing that, we're leaving those Trump tariffs in place.

And they did it in a way that they hoped nobody would notice. I mean, when you hope nobody's going to notice, that's what you do. You put the information out on a Friday before a holiday weekend.

JULIE HYMAN: So being tough on China more important than rolling back those tariffs.

RICK NEWMAN: That is the takeaway.

JULIE HYMAN: Yeah.

RICK NEWMAN: And Biden is saying, you know, it's too-- it'd be too much of a political vulnerability for me to undo those tariffs, even though a lot of economists say that would be the better thing to do for US economic growth.