Janet Yellen, the US Treasury Secretary, made a statement on customs duties.

Janet Yellen, the Secretary of the Treasury of the United States, stated that it is a significant issue to reduce the tariffs on Chinese goods in order to reduce high inflation in the USA. In an effort to control the increasing inflation in the United States, US Treasury Secretary Janet Yellen stated that lowering tariffs on Chinese imports is "worth consideration." Addressing the steps taken by US President Joe Biden to reduce oil prices and solve the problems in the supply chain, Minister Yellen said, "We want to do everything we can to reduce inflation." Joe Biden announced late last month that they would open 1 million barrels of oil a day from strategic oil reserves to help lower gasoline prices and fight inflation across the country. The minister's statement was made a day after Daleep Singh, a senior adviser to the White House, suggested that the US cut tariffs on a number of non-strategic Chinese products, such as bicycles or clothing, to help fight inflation.