President Biden’s plan to lift tariffs on China will do little to ease record levels of inflation while giving Beijing the upper hand in its trade relationship with the United States, according to analysts.

Commerce Secretary Gina Raimondo said Sunday that Biden has asked his team to look at the option of lifting some tariffs on China — put in place by former President Donald Trump — as inflation hovers at four-decade highs.

But experts say the stopgap measure is short-sighted and will have long-term implications.

“The amount of negative impact this will have will last decades if not forever turn the tide of competition with China in favor of China,” Bob Bilbruck, CEO at consulting firm Captjur, told The Post.

“What Biden is suggesting by overturning the tariffs to help with inflation is just plain wrong.”

When he came into office, Biden reversed some of the hundreds of billions in tariffs levied by the Trump administration — targeting steel and aluminum, and later expanded to include consumer goods like clothing and sporting supplies — against the Communist regime.

Now he has asked Raimondo to look into easing more restrictions as inflation threatens to unclamp the Democrats’ grip on both chambers of Congress in the looming midterm elections.

“There are other products — household goods, bicycles, etc. — and it may make sense” to weigh lifting tariffs on those, Raimondo told CNN in an interview Sunday, adding the administration had decided to keep some of the tariffs on steel and aluminum to protect US workers and the steel industry.

Bilbruck said lifting tariffs would most likely be a unilateral move without any Chinese reciprocation.

“It’s not going to help with the highest inflation areas like gas and food and there is no guarantee the Chinese are going to lower prices on goods they produce and export to us just because we have lowered the tariffs on these products,” he told The Post.

“They may just keep prices the same and take the money that was going into tariffs and add it back as margin and cushion their bottom line.”

He said Trump’s tariffs “had been keeping China in check” and that lifting them “will allow China (to gain) back full control of the import and export market, thus strengthening their country and weakening the US further in this area.”

Bilbruck added: “I would argue we should pass a bill that strengthens manufacturing in the US and bring many of these goods back home to be produced.”

“This would be much better money spent instead of the bloated, idealistic Green New Deal.”

Salvatore J. Stile, who heads customs brokerage firm Alba Wheels Up International, told The Post that it’s too soon to determine whether Biden’s plan will be a success.

“Removing tariffs on imported Chinese goods could have a net-positive impact on the consumer, should the importers pass along the savings to the consumers through reduction of prices,” Stile told The Post.

“However, many of these importers have likely been operating at a loss or low profit margin, due to high freight rates, shortages, increased labor costs, and gas, so widespread price reduction is far from a guarantee.”

Stile added: “The Chinese may counterbalance these savings. While there may be an influx in purchasing from China following the tariff’s repeal, it is very possible that the Chinese factories rescind some of the discounts they provided when the tariffs were initiated, raising product prices.”

“So, it could be at the end of the day a zero-sum gain, only benefiting the Chinese factories once again.”

Inflation, which hit 8.3% in April, is at the top of Americans’ minds. Eighty percent say inflation is an important factor in how they’ll vote in November, while 74% say gas prices, which are nearing $5 a gallon, is key, according to an ABC News/Ipsos poll.

Treasury Secretary Janet Yellen admitted that the administration was “wrong” last year when it believed inflation would be a “transitory” problem that would soon clear up. 

Both Yellen and Federal Reserve Chairman Jerome Powell had repeated the “transitory” claim even though inflation was climbing to 40-year highs. ​

“I think I was wrong then about the path that inflation would take,” Yellen said Tuesday.

“There have been unanticipated and large shocks to the economy that have boosted the energy and food prices, and supply bottlenecks that have affected our economy badly that I didn’t, at the time, fully understand.”

With Post wires