The United States may cut some tariffs on imports from China, but that does not constitute a “cure” for falling inflation, Finance Minister Janet Yellen said today.
In particular, according to Reuters, speaking in the House of Representatives, Ms. Glenn said that the Biden government is considering how to restructure some of the tariffs imposed on Chinese products by former President Donald Trump, in order to be “more strategic” regarding abuses of China.
Responding to a question, however, Janet Gellen said: “I want to make it clear that I honestly do not believe that tariff policy is a panacea for inflation.”
“Goods represent only a third of consumption and it is not clear how much of this and to what extent it will be passed on to consumers,” said YPOIK about the reduction of tariffs.
Source: Capital
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