China US Photo: VCG

In an exclusive interview with US broadcaster CBS’ “Face the Nation” that aired on Sunday, US Treasury Secretary Janet Yellen said that lowering the punitive tariffs imposed by former US President Donald Trump’s administration on Chinese goods is “certainly something that’s under consideration,” while admitting that “tariffs do tend to raise domestic prices.” 

While it is not the first time that Yellen said the US may consider reducing the bruising tariffs, her remarks on Sunday, ahead of a closely watched virtual summit between top leaders of the two countries on Tuesday, still attracted widespread attention. Observers believe that such positive signals from US officials may presage certain stabilizing trend of China-US economic and trade cooperation in the near future.

Also very important is the messy US domestic situation behind such increasingly positive remarks from US officials. The US economy is struggling…

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