style

US Treasury Secretary Yellen visits China for high

Font size+Author:Planet Perspective news portalSource:sport2024-05-22 10:38:47I want to comment(0)

U.S. Treasury Secretary Janet Yellen said Wednesday she would not rule out taking additional steps t

U.S. Treasury Secretary Janet Yellen said Wednesday she would not rule out taking additional steps to protect U.S. clean energy industries from Chinese competition, as she traveled to China for nearly a week of high-level talks aimed at further stabilizing financial and economic ties between the world’s two largest economies.

During a refueling stop in Alaska, Yellen told reporters the Biden administration wants to support the growth of the U.S. solar panel, electric vehicle and battery industries.

"We're providing tax subsidies to some of these sectors, and I wouldn't want to rule out other possible ways in which we would protect them," Yellen said, when asked whether she would raise the prospect of new trade barriers with her Chinese counterparts.

She did not specify whether new U.S. steps could include tariffs.

Yellen said ahead of her trip that China’s subsidizing clean energy and industrial overcapacity “hurts American firms and workers, as well as firms and workers around the world.”

The trip is Yellen’s second to China and comes after U.S. President Joe Biden and Chinese leader Xi Jinping spoke this week in a phone call for the first time since meeting in November. It also comes as scrutiny of Beijing intensifies ahead of the U.S. presidential elections and Washington tightens curbs on the sale of high-tech goods to China.

Following the 105-minute phone call, Xi warned Biden that the U.S. was "creating risks" by suppressing China’s trade and technology development, according to state-run Xinhua news agency.

FILE - In this photo taken through a window, President Joe Biden talks on the phone in the Oval Office of the White House in Washington, Dec. 9, 2021. Biden spoke with Chinese President Xi SEE ALSO:

Biden tells China's Xi to stay out of US elections

Related articles
  • Seoul AI summit opens with companies including Google, Meta, OpenAI pledging to develop AI safely

    Seoul AI summit opens with companies including Google, Meta, OpenAI pledging to develop AI safely

    2024-05-22 10:08

  • Video shows raid on ship near Strait of Hormuz that a Mideast official says was carried out by Iran

    Video shows raid on ship near Strait of Hormuz that a Mideast official says was carried out by Iran

    2024-05-22 10:06

  • Colorado crime lab scientist accused of tainting DNA data in hundreds of cases

    Colorado crime lab scientist accused of tainting DNA data in hundreds of cases

    2024-05-22 09:53

  • Coalition talks: Christopher Luxon, David Seymour and Winston Peters meet in person

    Coalition talks: Christopher Luxon, David Seymour and Winston Peters meet in person

    2024-05-22 09:42

Netizen comments