(Finance) – The Treasury Secretary, Janet Yellenstated that “calls to isolate America with high tariffs on friends and competitors or to treat even our closest allies as transactional partners are deeply misguided. Extensive, untargeted tariffs would raise prices for American families and make our less competitive companies”. In her speech at the Council on Foreign Relations, Yellen commented on the economic proposals presented by former President Trump during the presidential race.
In particular, he wanted to highlight how former President Trump’s announcements on tariffs can have political appeal countryside electoralbut they can also be extremely destabilizing for the world economy.
Yesterday in an interview at the Economic Club of Chicago, Donald Trump promised again that, if he wins, he will introduce “terrible” tariffs to “bring” businesses back to the United States. “In my eyes, rate it’s the most beautiful word in the dictionary,” he said, explaining that he wanted to reduce taxes “even further” for companies that manufacture their products in the USA and to introduce duties customs “elevati”https://www.Finance.it/DettaglioNews/179_2024-10-17_TLB/.”The higher the customs duties, the more likely it is that the company will establish itself in the United States”, argued the Republican candidate. Trump also defined himself as “very good at mathematics” when it was objected that with this policy there was a risk of a price increase for i consumers Americans.
“Another theory is that when the tariffs are so high, so terrible, so hateful, the producers come right away”, added Trump who did not spare even his closest allies: according to Trump the United States is being “cheated” economically by Union European And Japan.
“The problems we face today, from disrupted supply chains, to climate change and global pandemic preparedness, to industrial overcapacity from the Chinathey also mean that we cannot simply draw on an old script,” Yellen concluded in her speech.