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‘Significant’ Chinese response to US tariffs possible: Janet Yellen
- The United States is expected to raise tariffs on Chinese clean energy goods such as electric vehicles
- US Treasury secretary said she hopes China won’t mount major retaliation against any steps US takes
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Beijing could possibly issue a “significant” response to US tariffs on Chinese goods, Treasury Secretary Janet Yellen said on Monday when asked about the prospect of fresh levies.
The United States is reportedly planning to raise tariffs on Chinese clean energy goods such as electric vehicles, batteries and solar products, with an announcement expected this week.
“President [Joe] Biden believes that anything we do should be targeted to our concerns and not broad-based, and hopefully we will not see a significant Chinese response. But that’s always a possibility,” Yellen told Bloomberg TV in an interview on Monday.
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A US decision on tariffs would come at the end of a long-awaited review of levies imposed during a trade war between Washington and Beijing.
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US Treasury chief Janet Yellen leaves China after ‘difficult conversations’, overcapacity gripes
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The administration of then-president Donald Trump had introduced levies on some US$300 billion in goods from China.
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