(PresidentialWire.com)- Janet Yellen, President Joe Biden’s Treasury Secretary, has already proven that she and her team are completely incapable of handling the United States economy, with inflation skyrocketing and unemployment staying unacceptably high. But for some reason, Yellen seems to think that she knows better than former President Donald Trump who ushered in an age of ultra-low unemployment, low taxes, and high prosperity.
This week, Yellen questioned the tariffs implemented by the Trump administration against the billions of dollars of Chinese goods being imported into the United States every year. The tariffs were implemented as a way to reduce reliance on China and to promote American industry, but Yellen isn’t a fan.
During an interview with The New York Times, Yellen said that her personal opinion is that the tariffs were put in place in a way that was not “thoughtful” and were not in the interests of the United States.
The tariffs are one of the few things that President Joe Biden kept in place upon taking the White House. Whether that was simply a matter of time or if the president agreed with them, we don’t know, but the more we hear from the White House about the tariffs the more it seems that they are on the way out.
The tariffs were placed on almost $360 billion of Chinese goods, and by lifting those tariffs, President Biden will be granting huge economic relief to China at a time when the Chinese Communist Party is actively working against American interests and allying with Russia and North Korea.
President Biden has launched a review of the “phase 1” trade agreement established by former President Donald Trump, and the future of the agreement is now in doubt.
Yellen told the New York Times that tariffs are “taxes on consumers,” but completely failed to recognize the powerful effect that tariffs have on promoting American jobs and industry. She claimed that the tariffs “hurt American consumers.”
Does America really need more cheap Chinese-made stuff? Or should we be focusing on industries right here at home?