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Yellen says US-China ties on 'surer footing' after her visit
July 10, 2023
|Mint Mumbai
Frictions between the two nations have tumbled into a tit-for-tat trade war, with both sides restricting exports
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US Treasury Secretary Janet Yellen strucka positive but pragmatic tone after completing a highstakes trip to China that aimed to reassure officials the US won't hold back its biggest economic competitor.
Yellen's comments were delivered at a press conference capping a fourday visit to Beijing that she'd described as a mission to revive engagement between the two largest economies. Frictions between Washington and Beijing have tumbled into a tit-for-tat trade war that has seen both sides restrict exports critical to advanced technologies.
The US Treasury chief emphasized the benefits of trade with China and said she'd stressed to skeptical officials in Beijing that "diversifying" supply chains in narrow areas wasn't the same as decoupling. "This is something I am trying to communicate and believe very strongly myself," she said. "I think that message was received."
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