Tariffs Would Raise Consumer Prices, Harm US Exports: Yellen

The Treasury chief said isolationism ’made America and the world worse off.’

Treasury Secretary Janet Yellen speaks during a demonstration while visiting the Financial Crimes Enforcement Network in Vienna, Va., on Jan. 8, 2024. Samuel Corum/Getty Images

Tariffs would result in higher domestic prices and weigh on U.S. firms’ competitiveness to export goods, says Treasury Secretary Janet Yellen.

Yellen kicked off the International Monetary Fund and World Bank annual meetings in Washington, on Oct. 22, highlighting U.S. economic growth and lambasted international isolationism that “made America and the world worse off.”