Janet Yellen backs retaliation against Trump tariffs
Summary
Former Treasury Secretary Janet Yellen criticized President Trump's treatment of U.S. allies, describing it as “appalling” and urging countries like Canada to retaliate against his protectionist tariffs instead of remaining passive. Yellen contends that these tariffs have not only hurt American affordability but have also strained relationships with allies, a view shared by other former Treasury officials who have voiced concerns about the negative impact of such policies on U.S. alliances and consumer costs. Currently, the U.S. effective tariff rate stands at 11.2%, significantly higher than levels seen in early 2025, prompting affected nations to consider reciprocal measures to protect their economic interests.
Analysis
Janet Yellen: Janet Yellen is a leading American economist who served as U.S. Treasury Secretary from 2021 to 2025 and previously chaired the Federal Reserve. She specializes in monetary policy, international economics, and global financial cooperation. In this news, she has criticized President Trump's tariff approach toward allies as damaging and urged countries like Canada to respond with retaliation instead of acquiescence. Allied Response: Countries affected by U.S. tariffs are being encouraged to pursue reciprocal measures to defend their economic interests. Trade Policy Criticism: Former Treasury officials have publicly opposed protectionist tariff strategies for their effects on U.S. alliances and consumer costs.
Categories
macropolitics