05/13/2024

Yellen Says Chinese Response Possible on Expected U.S. Tariff Action

Tariffs implemented under the former administration are expected to be updated

The United States could see a significant response from China following any U.S. tariff actions, U.S. Treasury Secretary Janet Yellen said on Monday ahead of expected new tariffs targeting certain sectors this week.

Yellen, speaking to reporters after a broadband event in rural Fredericksburg, Virginia, said she and other U.S. officials had made clear to China they could reconfigure tariffs first imposed under former President Donald Trump to be more strategic, but that any changes would be narrowly targeted.

"We've been clear that in reviewing it we may decide that it's appropriate to reconfigure what's been done in a more strategic way," she said.

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