WASHINGTON, D.C. — US President-elect Donald Trump's proposals to impose sweeping tariffs on imports could counter earlier efforts to cool inflation, Treasury Secretary Janet Yellen said Tuesday, warning that consumer prices could rise.
WASHINGTON, D.C. — US President-elect Donald Trump 's proposals to impose sweeping tariffs on imports could counter earlier efforts to cool inflation, Treasury Secretary Janet Yellen said Tuesday, warning that consumer prices could rise.Her comments at the Wall Street Journal's CEO Council Summit come as Trump has vowed broad tariffs of at least 10 percent on all imports and higher rates on goods from China, Canada and Mexico.
She has previously raised concern over China's industrial overcapacity, which risks a flood of underpriced goods into global markets and could undermine the development of key US industries.On Tuesday, Yellen also expressed regret that the United States had not made more progress on the country's deficit, saying she believes it 'needs to be brought down, especially now that we're in an environment of higher interest rates.
Tariff Plans May Derail Inflation Progress
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