As the news outlet reported on April 22, the Treasury chief said, "It's worth considering.  We certainly want to do what we can to address inflation, and there would be some desirable effects. It's something we're looking at."

Yellen reminded that the U.S. has been releasing oil from the Strategic Petroleum Reserve at a historic record to lower oil prices. There have also been measures to tackle the supply chain woes.

According to the US-China tariff chart compiled by the Peterson Institute for International Economics, the average tariff rate on Chinese exports to the U.S. remains at 19.3% from February 2020 to the present. This is more than 6 times higher than before the trade war began in 2018.