Categories: Markets

USA: Biden administration seeks to make China tariffs more ‘strategic’ – Janet Yellen

The Administration of President Joe Biden is seeking to “reconfigure” the tariffs imposed on Chinese products under former President Donald Trump to make them more “strategic”US Treasury Secretary Janet Yellen told lawmakers on Capitol Hill on Wednesday.

Key comments

“This administration inherited a set of 301 tariffs imposed by the Trump administration that I think they were not really designed to serve our strategic interests“.

“We’re taking a look and seeking to reconfigure those tariffs in a way that is more strategic“.

The tariff reductions “could help lower the prices of the things people buy and that they are burdensome”.

“Honestly, I don’t think tariff policy is a panacea with respect to inflation.”

Source: Fx Street

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