Yellen: China tariffs hurt U.S. consumers, phase-one deal had little effect

Treasury Secretary Janet Yellen this week criticized the phase-one deal the Trump administration struck with China for not addressing the key economic irritants between Washington and Beijing that led to tariffs on roughly $370 billion worth of Chinese goods -- duties Yellen said harmed U.S. consumers. “Tariffs are taxes on consumers. In some cases it seems to me what we did hurt American consumers, and the type of deal that the prior administration negotiated really didn’t address in many ways...