Treasury Secretary Says Section 301 Tariffs May Have Inflationary Effects
Treasury Secretary Janet Yellen, acknowledging that removing Section 301 tariffs on Chinese goods would make some difference in inflation, didn't directly answer a question about whether they should stay, but said that U.S. Trade Representative Katherine Tai is "revisiting the…
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phase one trade deal and recognizing requests to reduce tariffs in some areas." During a "Face the Nation" appearance Nov. 14, Yellen was also asked what the Biden administration could do to unclog the supply chain. "We have been talking with the operators of ports in Los Angeles, in Long Beach, in Savannah, trying to understand why there are such backlogs of ships waiting to off-load their goods."