Treasury Secretary Janet Yellen addressed economic relations between the U.S. and China as Washington increases its pressure on Beijing.
Treasury Secretary Janet Yellen called Thursday for fair economic competition and growth with China.
WASHINGTON — The U.S. seeks healthy economic competition with China even as the country pursues intellectual property to gain an economic edge, Treasury Secretary Janet Yellen said Thursday. Janet Yellen, US Treasury secretary, speaks at the Johns Hopkins Universitys School of Advanced International Studies in Washington, DC, US, on Thursday, April 20, 2023.The Treasury chief also contended China has pursued market share for its domestic firms through illegal means and at the expense of foreign competitors.
"We will clearly communicate to [China] our concerns about its behavior. And we will not hesitate to defend our vital interests," Yellen said. "Even as our targeted actions may have economic impacts, they are motivated solely by our concerns about our security and values. Our goal is not to use these tools to gain competitive economic advantage."
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