Treasury Secretary Janet Yellen said Sunday that President Biden is considering reversing some of the Trump-era tariffs on China to combat skyrocketing inflation, saying they “serve no strategic purpose.”
“President Biden is reviewing tariff policy toward China,” Ms. Yellen said on ABC’s “This Week.” “He inherited a set of tariffs from the Trump administration, many of which were put on as retaliation for China’s failure to respond to abuses that weren’t covered in a 301 investigation.”
She referred to the Trump administration’s investigation under Section 301 of the Trade Act of 1974, which found in 2018 that China engaged in unfair trade practices.