Janet Yellen: Trump’s Tariffs Are Going to Produce Decoupling from China; ‘I Regard That as Very Undesirable’

LEINZ Well and you ░░░░░░░░ Secretary together with the ░░░░░░░░ Administration were largely were ░░░░░░░░ deliberate in saying that ░░░░░░░░ goal was not decoupling ░░░░░░░░ China Is that actually ░░░░░░░░ what is going to ░░░░░░░░ Yellen Yes LEINZ the ░░░░░░░░ of these policies a ░░░░░░░░ Yellen Well if tariffs ░░░░░░░░ this level remain in ░░░░░░░░ it seems to me ░░░░░░░░ must produce decoupling And ░░░░░░░░ regard that as very ░░░░░░░░ I think the tariffs ░░░░░░░░ we ve placed on ░░░░░░░░ are going to impose ░░░░░░░░ significant burdens on American ░░░░░░░░ Now of course things ░░░░░░░░ changing by the day ░░░░░░░░ s at least a ░░░░░░░░ reprieve on auto parts ░░░░░░░░ we learned about today ░░░░░░░░ reasonable you know estimates ░░░░░░░░ the impact on the ░░░░░░░░ American household of these ░░░░░░░░ the whole program but ░░░░░░░░ China is around 4 ░░░░░░░░ per household This isn ░░░░░░░░ good And most of ░░░░░░░░ goods we can t ░░░░░░░░ in the United States ░░░░░░░░ if we were able ░░░░░░░░ do so it would ░░░░░░░░ years to shift production ░░░░░░░░ you know unfortunately with ░░░░░░░░ uncertainty that surrounds these ░░░░░░░░ you know I think ░░░░░░░░ businesses are in a ░░░░░░░░ where they must feel ░░░░░░░░ You don t know ░░░░░░░░ it makes any sense ░░░░░░░░ cease production in China ░░░░░░░░ to move it to ░░░░░░░░ United States And unfortunately ░░░░░░░░ of our closest allies ░░░░░░░░ longer believe commitments that ░░░░░░░░ make are good and ░░░░░░░░ remain in force So ░░░░░░░░ I were a business ░░░░░░░░ about coming to the ░░░░░░░░ States to get behind ░░░░░░░░ tariff walls I wouldn ░░░░░░░░ feel confident that when ░░░░░░░░ factory came online several ░░░░░░░░ down the road that ░░░░░░░░ tariffs would still be ░░░░░░░░