Senate Republicans, Democrats Rebuke Joe Biden, Janet Yellen: 'Tariffs Are Not a Driver of Today's Inflation'

Senate Republicans and Democrats are rebuking claims from President Joe Biden and Treasury Department Secretary Janet Yellen that United States tariffs on Chinese imports have helped spur record inflation for American consumers.

Rob Portman, Sherrod Brown, Mitt Romney, Kevin Cramer, Mike Braun, Robert Casey, Rick Scott, James Inhofe, and Elizabeth Warren have written a letter to Biden urging him to keep in place U.S. tariffs on billions of dollars worth of China-made products.

The letter comes as Biden and Yellen have both suggested they want to cut U.S. tariffs on China in what they claim will drive down inflation for American consumers.

In closing, we note that the tariffs are not a driver of today's inflation.

Not only do the tariffs predate the current inflation by over three years, but Chinese imports make up only 2 percent of goods included in the Consumer Price Index and would not materially reduce inflation.

The timing of the tariffs clearly shows no correlation with inflation and eliminating tariffs could not plausibly restrain it.

Already, the Biden administration has eliminated U.S. tariffs on more than 350 China-made products - a major win for multinational corporations that have long outsourced manufacturing to China.

https://www.breitbart.com/politics/2022/05/29/senate-republicans-democrats-rebuke-joe-biden-janet-yellen-tariffs-are-not-a-driver-of-todays-inflation/