The remarks come as the Biden administration is continuing its review of the tariffs that former President Donald Trump imposed on more than $300 billion worth of Chinese goods to determine whether any changes should be made.
Yellen did not address the tariff issue directly in the excerpts provided, but repeated that the Biden administration does not seek to “decouple” economically from China.
The excerpted remarks also did not address the possibility of Congress passing legislation to revoke “permanent normal trade relations” with China, which would rock the administration’s efforts to stabilize relations with Beijing.
The Treasury chief said the Biden administration will continue pressing for clarity on China’s economic policies and policymaking to better inform U.S. decision-making.
“We will continue to raise concerns on areas where the U.S. and China disagree, from the possible global spillovers of China’s industrial policies to actions China has taken that can disadvantage the private sector,” Yellen said. “We will also ask for greater transparency on China’s non-market practices and foreign exchange practices.”
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