Treasury Secretary Janet Yellen to Visit China for Meetings with Finance Leaders

Treasury Secretary Janet Yellen, right, greets Chinese Vice Premier He Lifeng on Nov. 9, 2023, in San Francisco. Yellen is headed to China to Guangzhou and Beijing for meetings with finance leaders and state officials. Her engagements will include Vice Premier He Lifeng, Chinese Central Bank Governor Pan Gongsheng, former Vice Premier Liu He, leaders of American businesses operating in China, university students and local leaders.

Yellen, speaking to reporters Wednesday during a refueling stop in Alaska en route to Asia, said her visit would be a “continuation of the dialogue that we have been engaged and deepening” ever since US President Joe Biden and Chinese President Xi Jinping met in 2022 in Indonesia. She noted that it would be her third meeting with China’s vice premier.

The Treasury secretary’s travels come after Biden and Xi held their first call in five months on Tuesday, meant to demonstrate a return to regular leader-to-leader dialogue between the two powers. The leaders discussed Taiwan, artificial intelligence and security issues. Jude Blanchette, a China expert at the Center for Strategic & International Studies, said, “the Biden administration’s efforts over the last year to stabilize the relationship are clearly working, but the main friction points all remain unresolved and will likely challenge the relationship for the foreseeable future.”

“In contrast, a US tariff on EV imports could raise the price of EVs in the US and is therefore counterproductive for the purpose of inducing a green transition.”

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