Yellen to Warn Sweeping Tariffs Would Ignite Inflation

Published On Oct 17, 2024, 5:06 AM

Treasury Secretary Janet L. Yellen is set to deliver a speech criticizing the economic policies proposed by former President Donald J. Trump, particularly focusing on his support for high tariffs. Yellen argues that these tariffs would increase inflation and harm U.S. businesses by raising prices for American families and making companies less competitive. Trump's proposed tariffs could be substantially higher than those implemented during his first term, potentially reaching up to 50% on foreign imports. This speech is particularly timely with the upcoming presidential election, highlighting the contrasting economic visions of Trump and current administration officials.