Well, Yellen knew that US inflation was a clear and present danger. If Yellen didn't do anything to contain it, the US rates including its treasury yields would spike and cause a financial meltdown.
Therefore, Yellen had no choice but to contact Liu He to talk about cooperation and also the partial or full removal of US-China tariffs.
Time is not on the US side because the existing US-China tariffs are hurting the US and not China. The US-China trade deficits are still rising despite the additional tariffs.
By removing partial or full US-China tariffs, the US inflation pressure will be reduced immediately and the US will have more time to handle or prevent the impending financial crisis.
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