Yellen: We Need Tariffs to Protect 'Stimulus' from 'Inflation Reduction Act'

Yellen: We Need Tariffs to Protect ‘Stimulus’ from ‘Inflation Reduction Act’


During an interview with Bloomberg on Monday, Treasury Secretary Janet Yellen commented on President Joe Biden’s reported forthcoming announcement of increased tariffs on China by stating that the move is being made because President Joe Biden wants to protect “the stimulus that’s being provided through the Inflation Reduction Act” to support certain industries.

Yellen stated, “The President believes that it’s critically important for the United States to have a role and a presence in strategic industries like semiconductors and like clean energy that are going to be the foundation of good jobs and national security in the decades ahead. He believes it’s unacceptable, as I do, to be completely dependent on China in these areas. And he wants to make sure, given that China is

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!