Treasury Secretary Janet Yellen stated in prepared remarks on Thursday that Washington aspires to maintain a “constructive and fair economic relationship” with China while being steadfast in safeguarding the nation’s security.
In a speech to be given at Johns Hopkins University in Washington, she continued, “We will continue to partner with our allies to respond to China’s unfair economic practices.”
Her remarks come at a time when relations between the two countries are at their lowest point in decades. Two months ago, a suspected Chinese surveillance balloon was believed to have flown over the US.
Although Yellen will advocate for a “healthy economic relationship” with China and stress the need for cooperation on everything from macroeconomics to climate change, the most of her speech will be devoted to Washington’s top priorities.
She will assert that the US will keep defending its and its partners’ national security interests, uphold human rights, and, if necessary, take action against the People’s Republic of China.
“We will clearly communicate to the PRC our concerns,” Yellen plans to say, adding: “Our targeted actions may have economic impacts [but] they are motivated solely by our concerns about our security and values. Our goal is not to use these tools to gain competitive economic advantage.”
China’s foreign ministry did not immediately respond to a request for comment.
