Treasury Secretary Janet Yellen is arguing for repealing a broad set of U.S. tariffs, allegedly as a way to fight inflation. Her argument is said to rely on a set of reports[1] published in March by the Peterson Institute that claimed that cutting tariffs would cut 1.3 percentage points off the U.S. rate of inflation. U.S. Trade Representative Katherine Tai, on the other hand, dismissed the Peterson study as “something between fiction or an interesting academic exercise.”

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