The New York TimesThe New York Times

Yellen, in Beijing, criticizes China's treatment of U.S. companies

By Alan Rappeport

07 Jul 2023 · 3 min read

informed Summary

  1. On her first day of meetings in Beijing, U.S. Treasury Secretary Janet Yellen criticizing China for its treatment of companies with foreign ties and for imposing export controls on certain critical minerals.

BEIJING — Treasury Secretary Janet Yellen on Friday criticized the Chinese government’s harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration’s efforts to make U.S. manufacturers less reliant on China.

Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China. Her comments, to a group of executives from American businesses operating in China, underscored challenges that the world’s two largest economies face as they look to move beyond their deep differences.

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