Rolling back U.S.-China tariffs would ease inflation in the U.S.

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Rolling back U.S.-China tariffs would ease inflation in the U.S., former Treasury secretary says

• Eliminating tariffs imposed on goods during the worst of the trade war would help ease inflation in the U.S., former Treasury Secretary Jacob Lew told CNBC.
  
• But there’s currently “no political space” to do so, he said on CNBC’s “Street Signs Asia.”
  
• Worries over inflation have shot up this year, as energy prices spiked and the ongoing supply chain crisis led to shortages of goods. But Lew said there’s been “a bit of excess nervousness about inflation.”
  

Eliminating tariffs imposed on goods during the worst of the trade war would help ease inflation in the U.S., former Treasury Secretary Jacob Lew told CNBC on Tuesday.

But there’s currently “no political space” to do so, he said on CNBC’s “Street Signs Asia.”

“I think that the United States and China have deep differences. I’ve never thought it should just be about negotiating the exchange of one good or another on one side or the other. It should be about a level playing field,” Lew said. He served as treasury secretary from 2013 to 2017 during the Obama administration.

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