Economy at Risk: Janet Yellen Addresses Trump’s Proposed Tariffs
Janet Yellen's Strong Stand on Tariffs
Treasury Secretary Janet Yellen is set to deliver a pivotal speech at 3 p.m. ET today at the Council on Foreign Relations in New York, addressing the potential consequences of former President Donald Trump's proposed tariffs. Yellen warns that the implementation of sweeping, untargeted tariffs could adversely affect the economy and reignite inflation.
The Dangers of Untargeted Tariffs
In her remarks, Yellen will outline the economic hazards associated with Trump’s ideas, which include:
- 10% across-the-board levies on all imported products
- Tariffs exceeding 60% on imports from China
While she refrains from specifically naming Trump, the implications of her warnings highlight the importance of strategic trade policies. Economists fear that such sweeping measures could result in widespread inflationary pressures, hence destabilizing the current economic recovery.
Evaluating Economic Strategies
Yellen’s insights underscore the necessity for careful deliberation in tariff adjustments and economic strategy. Stakeholders are urged to consider the long-term impact of such policies before implementing them.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.