Treasury Secretary Janet Yellen and President Joe Biden believe that increased income and growth in China are beneficial for both the world and the United States.
They are aiming to take actions to protect national security, but plan to target them narrowly in order to avoid imposing harm on China’s economy.
Yellen emphasized to her Chinese counterpart that the U.S. is not trying to stifle China’s economic progress, despite decisions such as restrictions on U.S. investment in certain Chinese tech sectors and tariffs on imported Chinese goods. (Trending: Jury Reaches Verdict In Paul Pelosi Hammer Case)
Bowing before China: Biden Treasury Secretary Janet Yellen pic.twitter.com/JROCCTsxfw
— AnalyzingAmerica (@AnalyzAmerica) November 17, 2023
“I know that the Biden administration has made some moves in the name of national security that China takes issue with, like I’m talking about restrictions on U.S. investment in certain Chinese tech sectors, prohibiting the export of certain tech goods to China, tariffs on imported Chinese goods, sanctions on Chinese firms,” NPR’s Ailsa Chang began.
“How do you explain those decisions to Chinese leaders when they are accusing the U.S. of trying to stifle their economic growth?”
Yellen answered, “I made clear in my conversations with my counterpart, Vice Premier He, that we are not trying to stifle China’s economic progress.”
“And, as the President and I have both said, we think greater income and growth in China is good for the globe and good for the United States as well. But we will take actions to protect our national security.”
“And when we do that, we will try to target them narrowly so that we’re not imposing broad harm on China’s economy.”
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