Yellen on Calling Trump Tariffs 'Taxes on Consumers': Biden's Are 'Targeted'

Yellen on Calling Trump Tariffs ‘Taxes on Consumers’: Biden’s Are ‘Targeted’


On Tuesday’s “PBS NewsHour,” Treasury Secretary Janet Yellen predicted that President Joe Biden’s tariffs won’t cause any meaningful price increases for typical families and responded to a question on her criticism of the Trump tariffs as “taxes on consumers” by stating that Biden’s tariffs are different because they’re “a targeted group of strategic sectors where we have developed a real overdependence on China.”

Yellen said that with the Biden tariff regime, “I don’t think that anything will occur here that would be noticeable to the typical American family. Mainly, these tariff increases serve to protect firms and workers that are being supported by the incentives, the tax incentives, and other incentives in the semiconductor and CHIPS Act and Inflation Reduction Act. These are sectors where

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