Yellen Says Biden Team Is Looking to 'Reconfigure' China Tariffs – BNN Bloomberg

(Bloomberg) — US Treasury Secretary Janet Yellen said the Biden administration is looking to "reconfigure" tariffs imposed on Chinese goods under former President Donald Trump to make them more "strategic." "This administration inherited a set of 301 tariffs imposed by the Trump administration that I think really weren't designed to serve our strategic interests," Yellen told lawmakers on Capitol Hill Wednesday. While China is guilty of unfair trade practices and the US should be acting to protect its national-security interests, some of the existing tariffs have hurt American consumers and businesses, she said. President Joe Biden's team is weighing what…