All articles tagged with #economic diplomacy
U.S. Treasury Secretary Scott Bessent left ongoing trade negotiations with China in London to return to Washington, D.C., for congressional testimony, while other U.S. officials continue talks with China on key issues like export controls and rare earths, amid ongoing trade tensions.
Treasury Secretary Janet Yellen faces a diplomatic test during her visit to China as she seeks to defend export controls and tariffs while assuring Chinese counterparts that the United States does not aim to harm China's economy. Yellen will meet with Chinese officials to discuss U.S. measures blocking access to sensitive technology and the potential for new restrictions on U.S. technology trade with China. The visit comes amid growing concerns about China's behavior and escalating anti-China rhetoric in the United States, making it crucial for Yellen to maintain open lines of communication with her Chinese counterparts.
US Treasury Secretary Janet Yellen emphasized the need for a constructive economic relationship between the US and China, despite ongoing tensions between the two superpowers. The Biden administration is seeking to find areas of limited, pragmatic collaboration with China, particularly in technology, while assuring Beijing that efforts to limit their access to advanced technologies are limited to those with national security importance. Yellen's speech aims to recreate some of the communication channels that existed under Treasury Secretary Hank Paulson's "Strategic Economic Dialogue" in the 2006 to 2008 time frame.