US Treasury Secretary Janet Yellen on Wednesday confirmed she is advocating within the Biden administration for eliminating some tariffs on Chinese imports that “aren’t very strategic” but are hurting US consumers and businesses.
“Some of them, to me, seem as though they impose more harm on consumers and businesses and aren’t very strategic in the sense of addressing real issues we have with China,” she said, referring to unfair trade practices, national security issues or supply chain vulnerabilities. While Yellen has argued for removing some of the tariffs, the sources said US Trade Representative Katherine Tai prefers to keep them in place to develop a more strategic China trade agenda that protects US jobs and China’s behavior in global markets. This approach could even include new strategic tariffs.
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