Treasury Secretary Yellen Supports Biden’s Tariffs

Protecting Strategic Industries

During a recent interview, Treasury Secretary Janet Yellen expressed support for President Joe Biden’s decision to increase tariffs on China. Yellen emphasized the need to protect industries crucial for national security and job creation.

The Importance of Independence

President Biden aims to reduce the country’s reliance on China in sectors such as semiconductors and clean energy. Yellen highlighted the risks of being overly dependent on China due to their unfair trade practices and subsidies that distort global markets.

Supporting American Manufacturing

The tariffs are intended to safeguard the investments made through the Inflation Reduction Act, particularly in industries that are revitalizing manufacturing in areas affected by de-industrialization. President Biden’s commitment to protecting these industries aligns with Yellen’s stance on preventing Chinese overcapacity from harming American businesses.

Conclusion

Yellen’s comments underscore the administration’s focus on promoting domestic manufacturing and safeguarding strategic industries from foreign influence. By implementing tariffs on China, President Biden aims to secure America’s economic future and protect vital sectors essential for long-term growth.

Follow Ian Hanchett on Twitter @IanHanchett

Read More of this Story at www.breitbart.com – 2024-05-14 01:09:25

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