On NPR’s All Issues Thought-about broadcast, Treasury Secretary Janet Yellen mentioned that she and President Joe Biden “consider that elevated revenue and progress in China is sweet for the world and good for america as effectively.” Whereas america will take measures to guard its nationwide safety, “we are going to attempt to goal them narrowly in order to not impose widespread hurt on China’s financial system.”

“I do know the Biden administration has made some strikes within the title of nationwide safety that China opposes, simply as I am speaking about restrictions on U.S. funding in China,” requested co-host Elsa Zhang. (Associated trade begins round 2:40) Some Chinese language expertise sectors, bans on the export of sure expertise items to China, tariffs on imported Chinese language items, and sanctions on Chinese language firms. How do you clarify these selections to Chinese language leaders after they accuse america of attempting to stifle their financial progress?

Yellen responded, saying: “I’ve made clear in my conversations with my counterpart, the Deputy Prime Minister, that we’re not attempting to stifle China’s financial progress. Because the President and I’ve mentioned, we consider that growing revenue and progress in China is sweet for the world and good for america as effectively. However we are going to take measures to guard our safety.” And after we do this, we are going to attempt to goal them narrowly in order to not trigger widespread harm to the Chinese language financial system.