To ease tensions between the world’s two largest economies, Treasury Secretary Janet L. Yellen will travel to China on Wednesday.
Ms. Yellen planned to visit high-ranking Chinese officials and American businesses with operations in China. According to the official, Ms. Yellen will discuss global concerns and areas of common interest with her Chinese counterparts.
China is worried that the United States’ deeds do not match its rhetoric, so the Treasury secretary may expect some tough questions from her counterparts.
The government has placed severe limitations on China’s access to cutting-edge technology, citing national security concerns over Beijing’s potential to exploit these resources.
Mr. Blinken stated as much in a speech he gave last Wednesday at the Council on Foreign Relations in New York. He said that it was in American interests to prevent Beijing from acquiring technology that could be used to threaten the United States.
New investment restrictions are being prepared by the White House to limit the use of American cash to fund the development of breakthrough technology within China.
Although Ms. Yellen has previously cast doubt on the usefulness of tariffs on Chinese goods, the levies imposed by the Trump administration are still in place and show no signs of being removed.
Speak Out Against China’s Latest Ban on Micron Technology
Micron Technology, a U.S. maker of memory chips used in phones, laptops, and other devices, has been banned by China, and the secretary of the treasury is anticipated to voice objections to this prohibition.
After the Biden administration recently took steps to prevent Chinese chip firms from having access to vital technologies needed to make sophisticated semiconductors, the Chinese government banned companies that handle critical information from purchasing Micron microchips in May.
It is anticipated that Ms. Yellen will voice her displeasure with the Chinese government’s handling of ethnic minorities in Xinjiang, where the government has been accused of conducting mass detentions of Muslims. U.S. officials are also interested in learning more about the implications of China’s new anti-espionage law for international businesses.
Since then, Ms. Yellen has softened her stance on China, emphasizing the importance of Washington-Beijing relations to the global economy. She told MSNBC last week that “healthy competition” might benefit both countries’ economies and jobs.