US Treasury Secretary Janet Yellen said new tariffs on Chinese goods would protect US firms and workers without stinging the pocketbooks of American consumers.Most Read from BloombergFlood of China Used Cooking Oil Spurs Call to Hike US LeviesHow One of the World's Oldest Hedge Funds Went BankruptBiden Accuses China of ‘Cheating’ on Trade,

US Treasury Secretary Janet Yellen says new tariffs on Chinese goods would protect US firms and workers without stinging the pocketbooks of American consumers.

During a recent trip to China, Janet Yellen confirmed that the U.S. would protect its own industry from a flood of Chinese imports.

Yellen stated that “any measures (against China) should not be broad-based but should focus on areas of concern for the U.S.,” adding that “the U.S. cannot allow emerging industries to be wiped out by China.