US Treasury Secretary Yellen:
- Biden continues to consider tariff relief on Chinese imports, wants to make sure decision is good for American workers
- It is economically important to take a tough stance on China due to its economic practices, national security threats
- Very concerned about the global economic outlook in light of Europe's energy crisis, high food prices
- U.s. Is 'doing everything we can on the LNG front to be helpful' to Europe
- Fall in gasoline prices brought down headline inflation in July and may do so again in the August report
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Yellen remarks on Biden being in no hurry to cut China a break on tariffs. Appearing tough on China has broad political support in the US.
