Yellen to host China’s He Lifeng for ‘intensive diplomacy’ in advance of APEC

Yellen to host China’s He Lifeng for ‘intensive diplomacy’ in advance of APEC


US Treasury Secretary Janet Yellen (L) shakes fingers with Chinese Vice Premier He Lifeng all through a assembly at the Diaoyutai Point out Guesthouse in Beijing on July 8, 2023. 

Mark Schiefelbein | AFP | Getty Illustrations or photos

WASHINGTON — Treasury Secretary Janet Yellen will host her Chinese counterpart, Vice Premier He Lifeng, for two times of “intense diplomacy” in San Francisco on Nov. 9-10, the Treasury Section declared Monday.

The bilateral talks are section of a broader thrust among American and Chinese officials to make progress on precise issues, forward of an envisioned assembly between President Joe Biden and Chinese President Xi Jinping on the sidelines of the Asia Pacific Financial Cooperation discussion board next 7 days.

China has not however verified Xi’s attendance at the California summit, but U.S. officials have stated they are optimistic.

“Our two nations have an obligation to establish resilient strains of open communication and to avert our disagreements from spiraling into conflict,” Yellen wrote Monday in an op-ed for The Washington Post. “But we also know that our marriage are unable to be circumscribed to crisis administration.”

The Treasury Department is tasked with utilizing an August govt order that phone calls for the stricter regulation of higher-tech exports to China from U.S. businesses that deliver semiconductors, quantum know-how and synthetic intelligence.

“As we consider these steps, our coverage is to obviously articulate their intent and design to other nations, together with China, to reduce the danger of misunderstanding and miscalculation,” Yellen wrote.

China, however, remains a prolific trading spouse with the U.S. Chinese imports and exports rated third amid all investing partners this 12 months, according to the Commerce Division. Yellen and Vice Premier He have also sought to broaden investing possible by means of financial and financial working groups introduced in September.

The groups will “present ongoing channels for our teams to drill into the compound of economic and monetary plan problems,” Yellen wrote in the Post.

Ongoing discussions with He will deal with acceptable responses to boundaries posed by China’s noncompliance with sector ideas, this sort of as “dumping” exports into the U.S. marketplace at a decreased than established market place price tag, and coercion of fewer well known investing associates.

“In selected sectors, these unfair methods have resulted in the overconcentration of the output of vital products inside China,” Yellen wrote, but added that a “private-sector pullback” from China would set off disorder.

“Numerous supply chains are required in a volatile planet decoupling our economies would be economically disastrous and operate counter to our national pursuits,” Yellen wrote.



Supply

Nvidia says its AI chips don’t have a ‘kill switch’ after Chinese accusation
World

Nvidia says its AI chips don’t have a ‘kill switch’ after Chinese accusation

Nvidia CEO Jensen Huang speaks to the media at a hotel in Beijing, China July 16, 2025. Alessandro Diviggiano | Reuters Nvidia on Tuesday rejected Chinese accusations that its data center GPUs for artificial intelligence include a hardware function that could remotely deactivate the chips, which is commonly called a “kill switch.” “NVIDIA GPUs do […]

Read More
Russia weighs in on U.S.-India tariff spat, saying New Delhi can choose its own trade partners
World

Russia weighs in on U.S.-India tariff spat, saying New Delhi can choose its own trade partners

Russia’s President Vladimir Putin bids farewell to India’s Prime Minister Narendra Modi following their meeting at the Kremlin in Moscow, Russia July 9, 2024.  Gavriil Grigorov | Via Reuters Russia on Tuesday weighed into the growing spat between India and the U.S., with the Kremlin saying New Delhi is free to choose its own trading […]

Read More
Chocolate, skincare and timepieces: What 39% tariffs on Swiss goods mean for U.S. consumers
World

Chocolate, skincare and timepieces: What 39% tariffs on Swiss goods mean for U.S. consumers

Premium collection of dark, milk and white chocolates. Anna Kurzaeva | Moment | Getty Images U.S. buyers of Swiss products, from luxury watches and skincare to artisan chocolates, could soon face sharp price rises if negotiators are unable to strike a deal to avert 39% tariffs due to come into effect on Thursday. The announcement […]

Read More