Want to Ease Inflation? Start by Lifting the China Tariffs

Source: Foundation for Economic Education
by Clark Packard

“In March, inflation reached 8.5 percent, the highest level since 1981. From the Federal Reserve to the Biden administration to Congress, policymakers are increasingly looking at ways of putting downward pressure on prices. During an interview last week with Bloomberg TV about ways to combat inflation, Treasury Secretary Janet Yellen said that lowering tariffs on imports from China is ‘worth considering.’ As my Cato colleague Scott Lincicome noted on Twitter, it’s not worth considering, it’s worth doing. … Smarter trade policy is not a silver bullet for reducing inflation, but it could help on the margin. Indeed, there are a number of reasons for the Biden administration to lift the tariffs on imports from China — and other Trump‐​era tariffs.” (05/10/22)