Abolishing tariffs on China helps reduce inflation – Janet Yellen

thecekodok

 A United States Treasury tycoon, Janet Yellen supports Biden's plan to eliminate some of the tariffs on Chinese imports that have hurt users and commerce.


Yellen told the press conference before the G7 finance ministers and central bank governor's letters that internal talks were underway about the tariffs imposed by former president Donald Trump on Chinese imports.


According to Yellen, she is of the opinion that these tariffs will cause more harm to users and commerce and are not strategic in dealing with real issues with Beijing.



The US-China trade war has involved disputes over unfair trade practices, national security issues or supply chain weaknesses.


In the past, President Joe Biden is reported to have spoken with other base-makers to reduce tariffs as part of fighting soaring inflation.


However, the report said US trade representative Katherine Tai would prefer to keep it to protect US jobs and China's behavior in global markets.


However, the plan for this reduction has also received support from economists and commerce who see it as a way to tame inflation.

Tags