Secretary Yellen on Inflation, China Tariffs, Trade
ฝัง
- เผยแพร่เมื่อ 12 พ.ค. 2024
- Treasury Secretary Janet Yellen says the US does not want to "disengage" from China economically, but she says Beijing engages in massive subsidies and “is really not playing by the rules." Yellen didn't confirm if the US poised to impose new tariffs on China. She also talks about how the Biden administration is trying to bring down inflation. She speaks exclusively to Bloomberg's Annmarie Hordern in Fredericksburg, Virginia.
--------
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: tinyurl.com/ysu5b8a9
Visit www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on:
X: / bloombergtv
Facebook: / bloombergtelevision
Instagram: / bloombergtv
Connect with Bloomberg Business on:
X: / business
Facebook: / bloombergbusiness
Instagram: / bloombergbusiness
TikTok: www.tiktok.com/@bloombergbusi...
Reddit: / bloomberg
LinkedIn: / bloomberg-news
More from Bloomberg:
Bloomberg Radio: / bloombergradio
Bloomberg Surveillance: / bsurveillance
Bloomberg Politics: / bpolitics
Bloomberg Originals: / bbgoriginals
Watch more on TH-cam:
Bloomberg Technology: / @bloombergtechnology
Bloomberg Originals: / @business
Bloomberg Quicktake: / @bloombergquicktake
Bloomberg Espanol: / @bloomberg_espanol
Bloomberg Podcasts: / @bloombergpodcasts
![[Full Episode] MasterChef Junior Thailand มาสเตอร์เชฟ จูเนียร์ ประเทศไทย Season 3 Episode 1](http://i.ytimg.com/vi/Qs5zdBqLn_8/mqdefault.jpg)
Since when did US play fair??????
Since when has China ever played fair?
Yes, when the US is winning
@@elilla331answering a question with a question isn’t answering the question. Hahaha
May the best cheater win.
@@elilla331since forever
Haha America is the laughing stock of the world.
You are green with envy
Nobody in the world envies the US.@@Lochamp
@@308_Negra_Arroyo_LanePinoys and Indians do.
@@NoFrillz-G south korea and japan too lool
They don't envy America, although I would say most of them are more patriotic about America than Americans, they see America as a way to create wealth and opportunity. America is a tool for them, thats it. The world laughs at America and especially American people.
Just admit it. The US loves inflation and keeps accusing China for its overcapacity 😆
Because of the debt, the US *NEEDS* inflation (and it has to get worse)
@@infraaa_ Yeah, I think it's only a matter of time before people realize that we're nearing the point where we will need to inflate our way out of the mess Congress has created over decades of over spending and under taxing the rich.
How can you worry about inflation AND chinese cheap prices at the same time?
You can but only if you're schizo or bipolar 😉
Yes, you can make it when you refuse to be an adult.
In Bidens dream, as long as he shout out loud, Xi will surrender and make 1.4billion hardworking chinese slaves of America
Simple - because they are not worried about inflation... doesn't effect the rich and they don't care about the poor unless they need the votes ;-)
Well said.. and I am scratching my head on this one. LOL... something is terribly wrong!!
Yellen says she hopes china won't retaliate against US tarrifs... Lol.. what a joke
No.. China will just stand there and let the U.S slap on the face left and right... lol.. Yell is a no brainer.
FIRE YELLEN! She is a failure.
Failure at what? There's nothing to fail. All she has to do is issue the bonds that prop up our government, and occasionally say that our trade partners should play nice. It's almost a figure head position. If Yellen wasn't doing it, then we'd just have some other monetary wonk doing it. If you don't like our fiscal policy, then vote in a new Congress.
Fact is china helped US households during the 2008 US created property crash with cheaper prices so that generally no one felt the pain too much.
US also subsidies US agriculture, china should tarrif that because the US is playing unfair practices. Only fair right as the US is causing overcapacity too
Of course China can give subsidies to its people. All great nations do that.
Yellen: Inflation and high prices are a serious problem that is hurting Americans.
Also Yellen: Let's put a 100% tariff on $10,000 Chinese EV's so that Americans only options are American EV's that cost more than $30,000.
Are we going to sit here and act like our auto manufacturing industry also doesn't receive massive subsidies? Just admit these lobbyist are paying you and stop with this ridiculousness of acting like you are doing this for the benefit of Americans.
The reason we're doing these tariffs is because our politicians selling us out decades ago has caught up to us, so we have to do whatever we can to stop China while we play catchup. Thank you to the politicians and business executives who sold us out to China decades ago in order to reduce costs and pad their bottom line, but the reckoning as a consequence is here. China isn't a poor nation anymore. They can, will, and continue to raise labor costs now that they have access what was once our manufacturing capacity. We no longer have a competitive advantage like we used to. They're a beast we created, in many ways.
It is indeed self-inflicted as you said. Higher tariffs will result in higher prices for consumers and for exporters. It will make US products even less competitive in global markets.
china puts tarrifs on US goods. they are tougher
The beast you created was Russia. They came to you with open arms but your military industrial complex, manifest destiny could not resist poking the bear. USA, EU and Russia would have been game over for China
真是活久见啊， 美国人居然说美国在Play Catch Up。。。
@@gordongekko2781中国的电动车在欧洲市占率并不高，你要不要看看德国汽车在中国的年销量
China is expanding its capacity to serve Global South nations, prioritizing them over the protectionist United States. BYD's move to establish factories in Mexico, potentially hiring millions, emphasizes green modernization, economic growth, and advanced technology for Latin and South America. This renewable deployment cycle could help these nations to leapfrog the aging carbon-based infrastructure in the US.
spend money crazy. at the same time she said trying to bring inflation down?
Scam!
She is a pawn.
omg, all the comments LOL. This administration has driven people nuts. Thought Trump administration was already bad
LMFAO to have this technocratic penguin talk about fiscal responsibility is literally unbelievable
AMH asked good questions, but didn't push back even once on the blatant gaslighting
Lol
infection reduction is the biggest Subsidies to united States manufacturing, including chips, EV, etc.
China goods so cheap…its probably can combat the said inflation…why need tarrifs??? Ridiculous!!!! People also want cheap EV car!!!
Translation/ we can't compete unless we cheat. We only talk a good game about an open market.
The public has been waiting for car prices to come down for four years. Now the one thing that could hammer the greedy other gods of auto is getting tariffs.
she should have asked Mrs. Yellen what the FED is going to make US debt more attractive (people are not buying US debt)
hahaha, how did the lady get her position?
US has a military overcapacity problem.
China - subsidy
US - stimulus...inflation reduction act
😂😂
maybe just me, im confused with her answer when asked about higher inflation if more tariffs impose to chinese products, she answered irrelevantly. then accused chinese heavy government subsidy, then isnt it better for american consumer to buy subsidized chinese product in term of inflation? what are those Inflation Reduction Act fund, etc? those are not government subsidies?
I hate to blame Janet Yellen for Joe Biden’s destructive policies but I have never liked her.
@10:30
Yellen: ...and the president's plan would hold interest costs at historic levels and not allow them to rise above that.
So she's basically saying Biden is telling Powell what to do and that the Federal Reserve is not independent contrary to what everyone says in the White House
I can now affordable internet service in the home I can't purchase as a millennial with an engineering salary. Thank you, Yellen.
The only overcapacity in the world right now is called the US dollar.
US: $70B in 2024 for semiconductor companies - the Chip Act
China: $173B for EV companies between 2019 and 2022 - “unfair, massive subsidies“
🤣🤣
Oh btw US subsidies are split by a handful of supernational giant companies like Intel or NVidia. Chinese subsidies go to companies of all sizes, including startups who push innovation.
Go figure.
Replace "Chinese Products" with "US Debts", and "China" with "US"
Ironically, if you don't think they should, why does the U.S. government subsidize semiconductors?
Every 100 days we are another Trillion in debt. 34+Trillion and counting. Soon we will not be able to service our debt. We have a brain dead president and a Treasury Secretary that knows exactly how bad it has become on their watch. And they continue to drive inflation with their policies. Insanity
Any chance she realizes additional taxes (they call them tariffs) is simply addition inflation
Brought a ford last year, the quality in the same but price of made in America just keep going higher and higher. The big three will be gone if they can’t even compete in our own backyard.
She seems reasonable and competent. Thanks for posting this interview. I like hearing about concrete, actual deficit reductions and she delivered that. I also like the wealthy not getting tax cuts and she called that to account, as well.
What happens to all the intelligent politicians and Economists in the U.S? Now is like a bunch of mobsters.
I can't believe there are part of america with internet access..lol..😂😂
Trade policy is building a medieval wall of isolation, dooming us to decades of obsolete technology. Tariffs and quotas never motivated US automakers to improve and compete. GM still needed a government bailout, Jeep was sold off to Fiat, Ford retreated from foreign markets. This is about protecting automaker shareholders and executive compensation, UAW votes, and punishing China for being neutral on Russia/Ukraine. Why not let China use the money it earned from decades of trade with the EU and USA to reinvest in subsidies that make goods for global consumers at affordable prices? US monetary policy has been a failure, printing $trillions to infinity, dooming American workers to inflation, degraded purchasing power, substandard wages and debts that can never be repaid.
She needs to go please 🙏 bro she is breaking our relationship with every single country in the world 🌎
FED dollar is trash. They devalue your hardwork.
Export is now called "overcapacity" LOL
Get these senior citizens out of positions of power and making the most important decisions in the world that affect our future. Biden, Trump, Yellen, Powell, etc. they belong in homes not these positions. It is absurd.
US had no problem with overcapacity, the underlying reason for the Marshall Plan in the 1940s.
Print more money to support Israel & Ukraine. That's going to help. Stopping Chinese imports is not going to help but exacerbate inflation.
Perhaps Yellen should work on important things not internet to everyone. Of course, everything is transitory.
120% debt to gdp is not historically normal for us. Btw
Yellen obviously does not understand the struggles of your average citizens. She is is like 90yo and a multi millionaire by all accounts.
Yellen is no longer a acedemic economist, shes talking like a polititian, all visions and idealogies
Questioning 9/11 is not an "antisemitic conspiracy theory "
靠勤劳生产出的商品是坏事而印钱是好事😂
This is what happens when you let zombies rule your country
I don't know jack about economy, but some users pointed out 2 things that caught my attention:
1) This will only bring higher inflation to the Americans
2) This will force the Americans to buy expensive EVs
Any pros care to elaborate?
Also, last year Q4 there's union strike on Ford costed Ford 1.6 billion in sales... is that any relevant to all this trade thing? Sorry if I sounded weird, probably because I watched too much Hollywood movies...
Most Americans don’t know anything about the economy. That’s how we ended up with a super senile turd in the White House.
American moto companies cant compete cos its lack of innovation, those greedy capitalists have not been investing enough in RND, instead they are buying yachts in europe. American labour is not as competitive as it in China , less educated, less responsible, much less hardworking, requires more benefits and life balance, look at those doping workers in boeing, its a probably a good thing for individuals but not good for the industry. yellen sure cant say our workers are lazy or out companies are ancient and lack of competitiveness cos they havethe votes, so she point her finger to china
This administration is such a trainwreck
Is she the best the U.S has ?
Yellen should go back to UNIVERSITY to teach about OVERCAPACITY is bad and no country should produce more than its need and comparative advantages are evil.
She looks and talks like a Grandma. She should just retire.
I think I can do a better job with my GCSE Economic's 'D' grade (although admittedly I should have gotten a C if I knuckled down abit)..... lol
The old ”no raised tax under X then inflate until everyone earns more than X” play.
The most subsidies industry is the so called green or clean energy. Should the government, by bureocratic mandate, determine what source of energy the entire nation needs to use now and to the future ? You need competition to extract the best, more efficient, optimal and cheap form of energy that will drive the entire nation. If the states enters a state of war, what source of energy will demand its forces and civilians ? Certainly not the so called green one.
China subsides its critical and most important industries and sectors, is the green one part of it and what is the % of expenditure per year over the last 10 years?
So called green energy is a deeply inflationary policy because it requires so much government spend on this field. If you want to reduce inflation, this sector as well as medicare and others, are not points where you get that positive result.
Without cutting spending there wont be significant reduction to the national debt, deficits, and inflation.
Dems : lets raise taxes.
GOP: lets cut taxes.
No one touches national expenditures, then, the ship continues to sail to the same orientation.
Double taxation has been in place for many decades now. Revenues created by corporations, regardless of the industry, are tax. Then, the left over is delivered as salary to their employees, and at this point another individual tax.
You are leaving the worker without salaries, but the government aid population continue to receive resources at inflation monetary adjusted funds.
China saw how ambitious the world were united against global warming and determined to focus on green industry, cos its apparently a trend of the world so it must be good business in it , now china can produce cheap reliable solar panels, good value EVs, and west is just hating themselves that they didnt have the vision and determination. Its like you opened up a supermarket and walmart or costco outcompete you, and you wanna burn down all the walmart snd costcos in town
Love You Aunty, Blessings to you and, Health.
The protocols of the elders of zion are real...
I have not heard so much bs from an experienced economist before. She should go back and study econ 101! LAMO!!!
That’s Great Data,👏🏾👏🏾👏🏾👏🏾👏🏾🙏🙏⭐️🌟👑💎
It takes punishment to change the Chinese🇨🇳 regime's behavior. Diplomacy won't.
中国会怕你们这帮杂碎吗。草你妈的
We are the ones hurting you get that right? China doesn’t import Ev to us currently they don’t care😅
Great job
Biden 2024
Awesome job xi jin ping 2024
@@zacksmith5644i will vote for Xi or Putin in a heartbeat
@@tedwong7037 same❤
美債是不是產能過剩啊!?