Yellen criticizes Chinese treatment of U.S. companies

Treasury Secretary Janet Yellen criticized Chinese treatment of U.S. companies and new export controls on metals used in semiconductors during a visit Friday to Beijing to try to revive strained relations.

"The U.S. seeks healthy economic competition with China," Yellen said, according to a transcript released by her department. Treasury officials said earlier Yellen wouldn't meet with Chinese leader Xi Jinping. They said no breakthroughs on major disputes were expected. “I’ve been particularly troubled by punitive actions that have been taken against U.S. firms in recent months,” Yellen said.

Yellen defended U.S. export curbs and rejected Chinese accusations that Washington uses them for economic advantage.

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China's export curbs on raw materials are concerning, Yellen says on Beijing trip | CNN BusinessBeijing’s newly unveiled export controls on two strategic raw materials critical to the global chipmaking industry are a “concern,” US Treasury Secretary Janet Yellen said on the first day of her trip to China, where she met the country’s premier in an effort to stabilize bilateral relations after a particularly difficult period.
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