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Yellen criticizes Chinese treatment of U.S. companies

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Talking with a group of businesspeople, Yellen defended U.S. controls on technology exports that irk Beijing, saying they are needed for national security. She rejected motions Washington is trying to decouple, or separate the U.S. economy from China’s.

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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