BEIJING — US Secretary of the Treasury. janet yellen defended US actions to protect its national security in prepared remarks for a meeting with Chinese Premier Li Qiang.
“The United States, in certain circumstances, will need to take specific actions to protect its national security,” Yellen said Friday in prepared remarks.
“And we can disagree in these cases,” he said.
Among various measures, the US announced in October extensive export controls that restrict the ability of Chinese companies to develop advanced semiconductors.
This week, China’s Ministry of Commerce said that starting August 1, companies in China that want to export two metals used in chip making need to apply for licenses. The ministry said on Thursday that the measures were not targeted to a specific countryand that it had notified the US and Europe prior to the public announcement.
“We must not allow any disagreements to lead to misunderstandings that unnecessarily worsen our bilateral economic and financial relationship,” Yellen said in her prepared remarks.
He said there are “significant global challenges” on which the United States and China need to “cooperate and show leadership.”
Yellen was scheduled to meet the Chinese premier on Friday, the second day of her four day trip to china.
Earlier in the day, he met with former Vice Premier Liu He and former People’s Bank of China Governor Yi Gang. A Treasury official said the meeting lasted an hour and 15 minutes, longer than scheduled.
“They discussed the global economic outlook, as well as the respective economic outlook for the United States and China,” the official said.
His journey follows the US Secretary of State. Antony Blinken’s high-stakes visit to Beijing last month, and it comes as China’s economic growth has slowed.
Li met with economic experts on Thursday to discuss growth trends and suggestions for economic work, state media said. Li said the complex world political and economic situation has greatly affected China’s development, according to the report.
