The US Treasury Secretary is at the start of a visit to China that could shape US policy towards the country ahead of the presidential election.
Already a subscriber?Treasury Secretary Janet Yellen chided China for “unfair” treatment of American and other foreign companies and saidcan easily absorb, as she began a four-day visit to the country.
For Xi’s team, the Yellen visit marks one of the final chances to shape American policy before November’s US election, in which both candidates are vying to look tough on China. Former President Donald Trump has already threatened a 60 per cent tariff on Chinese goods if elected.
“I strongly believe that this doesn’t only hurt these American firms: ending these unfair practices would benefit China by improving the business climate here,” Yellen said. Many US businesses are concerned about “the impacts of China’s shift away from a market approach,” she added.
During that gathering, Yellen sought feedback for how to talk about overcapacity in a way the Chinese side can accept, according to a person familiar with the discussions, who asked not to be identified as they weren’t authorised to speak publicly. The Treasury chief is seen as among the less hawkish members of the US government when it comes to China.
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