Treasury Secretary Janet Yellen wrapped up four-day trip to Beijing without much to show for it, acknowledging an unsure future for relations between the U.S. and China.
After a series of economic meetings, it was at least agreed that more communication would take place.
“There is much more work to do,” Ms. Yellen said at a Monday news conference.
“And it remains unclear what this relationship will endure in the months and years ahead.”
Yellen told reporters that the U.S. will not allow China to disrupt new industries with imports, citing the early 2000s when close to 2 million American jobs were lost, Reuters reported.
YELLEN SAYS ‘TOUGH CONVERSATIONS’ NEEDED ON CHINA’S OVERPRODUCTION “We’ve seen this story before,” Yellen said, according to Reuters.
Yellen’s trip to China is her second in the last nine months.
“While we have more to do, I believe that, over the past year, we have put our bilateral relationship on more stable footing,” Yellen said.
After a four-day visit to Beijing, Treasury Secretary Janet Yellen left with little to show for her efforts and acknowledged that the future of U.S.-China relations remains uncertain. S. along with China.
At least there was an agreement to have more communication following a series of economic meetings.
Yellen stated, “There is a lot more work to be done,” during a press conference on Monday. And what this relationship will withstand in the coming months and years is still unknown. “.”.
Yellen informed reporters that the U.S. S. refuses to permit China to use imports to upset emerging industries, citing the nearly 2 million American jobs lost in the early 2000s, according to Reuters. In response to China’s efforts in the green energy sector, she did not, however, make any threats or warnings about potential tariffs.
Regarding China’s overproduction, Yelen says “tough conversations” are necessary.
According to Reuters, Yellen remarked, “We’ve seen this story before.”. “More than ten years ago, the PRC government provided substantial support for the production of cheap Chinese steel, which overtook other steel producers and destroyed American and international industries. “.
Yellen met with Chinese Premier Li Qiang during her visit; Li is the CCP’s second-ranking official after General Secretary Xi Jinping. They spoke for eighty minutes on Sunday. Li stated that the U.S. s. and China should work together rather than against one another, she said, praising the “constructive progress” made on her visit. Yellen has made two trips to China in the past nine months.
“With a year gone, I think we have placed our bilateral relationship on a more stable foundation, even though there is still work to be done,” Yellen stated. This hasn’t meant putting up with our disagreements or avoiding difficult talks. It has meant realizing that direct and honest communication between us is the only way we can move forward. “.
YELLEN IS GOING TO CHINA TO RESIST CLIMATE CHANGE AND SUPPORT US WORKERS’ INTERESTS.
According to Qiang, as reported by state news agency Xinhua, the U. s. should “avoid turning economic and trade issues into political or security issues” and approach the subject of production capacity from a “global and market-oriented perspective.”. ****.
Chinese Commerce Minister Wang Wentao stated that there was a lot of discussion centered on Chinese electric vehicle companies, which depend on ongoing technological innovation, flawless production and supply chain systems, and full market competition.
