Yellen says some China tariff cuts may be warranted, not inflation ‘panacea’

News Snapshot:

> WASHINGTON, June 9 — US Treasury Secretary Janet Yellen said on Wednesday the Biden administration was looking to “reconfigure” tariffs on Chinese imports but warned that such cuts would not be a “panacea” for easing high inflation. Yellen told a US House of Representatives Ways and Means Committee hearing that the Biden administration was examining changes to the “Section 301” tariffs on Chinese goods and to the process for product-specific exclusions from those duties. She said more information on the tariff plans would be available in coming weeks, adding that changes were “under active consideration.” The Trump-era tariffs of...