Treasury Secretary Janet Yellen responded to her question on “taxes on consumers” by saying that Biden’s tariffs are” a targeted group of strategic sectors where we have developed a real overdependence on China” on Tuesday’s” PBS News Hour.” She predicted that President Joe Biden’s tariffs would not cause any significant price increases for typical families.
With the Biden tariff regime, Yellen claimed,” I do n’t believe anything will happen here that would be noticeable to the typical American family.” These tax increases, in addition to the incentives provided by the transistor, CHIPS, and other incentives, primarily serve to protect businesses and workers. These are areas where British firms are gearing up production, are really able to compete, but they face an lack using area”.
Co- number Amna Nawaz next asked,” Madam Secretary, your perspective on this has evolved. It was in July of 2021 when you were asked about the Trump- time tariffs on China, and you said,  ,’ Taxes are levies on customers. In some cases, it seems to me what we did harm American consumers,’ but what changed between then and now”?
What we’re talking about here are a group of corporate areas where we have developed a genuine overdependence on China, Yellen responded. Our offer stores have flaws, too. We have made it a top priority to diversify our supply chains so that we do n’t run into the same kinds of shortages as we did during the pandemic. And these are the main people in today’s market.
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