Yellen: Trump Tariff Proposals Would Raise Costs For Americans

MNI London: Wires carrying remarks from US Treasury Secretary Janet Yellen, following a visit to Roxbury Community College in Boston, Massachusetts, stating that tariff proposals from former President Donald Trump would, "raise costs for American consumers."

• Despite advocating for the relaxation of tariffs - to control inflation - earlier in her term, Yellen says, "some tariffs are appropriate to maintain," adding that the administration is, "focused on China tariff review."
• Bloomberg notes that, "Trump has made it clear he plans to double down on his “America First” agenda. He’s floated the idea of encircling US industry with a 10% tariff..."
• BBG continues: "Beyond tariffs, Trump would push for a decoupling of the world’s two biggest economies with measures that include ending most-favored-nation status for China, which would raise tariffs and potentially other trade barriers to Chinese imports."
• A four-year review of the 301 tariffs imposed on China by the Trump administration is currently underway. The Biden administration may choose to raise tariffs on strategically important tech products, in line with policy on export controls, and relax some tariffs on consumer and industrial goods.