US Treasury Secretary Janet Yellen said that lifting tariffs on certain Chinese goods could help alleviate the high inflation that has taken hold across the US this year.
Cutting tariffs was also "worth considering," she said. "There would be some desirable effects. It's something we're looking at," she told Bloomberg TV on Friday.
The most recent inflation numbers, published in March, showed an 8.5% increase from the previous year – the highest jump in 40 years.
Inflation before elections
The ever-increasing inflation has reportedly been a concern for the Biden administration which faces midterm elections in November.
One-third of the US Senate and the entire House of Representatives will be facing voters, who are currently disgruntled by the surging inflation.
Yellen cited steps by President Joe Biden to reduce prices for Americans, by releasing portions of the Strategic Petroleum Reserve (SPR) and attempting to help resolve supply chain issues.
On Thursday, top White House adviser, Daleep Singh, had suggested the US could lower tariffs imposed on a host of non-strategic Chinese goods such as bicycles or apparel to help combat inflation.
Also read:
Source: Bloomberg