U.S. Treasury Secretary Janet Yellen outlines the improvements the IRS will deliver to taxpayers in 2024, during remarks at IRS Headquarters in Washington, U.S., November 7, 2023. REUTERS/Kevin Lamarque
Kevin Lamarque | Reuters
U.S. Treasury Secretary Janet Yellen underscored her priorities aimed at stabilizing frigid ties between the United States and China late Thursday.
Yellen, in prepared remarks for a dinner hosted by the U.S.-China Business Council, said “continuing to stabilize our relationship to prevent escalation won’t make news. But our economies, our people — and, again, also economies and people around the world — will be safer and more secure.”
“This is what it means for the U.S. and China to build and responsibly manage our relationship,” she said, adding that she has plans to visit China for a second time as Treasury Secretary. She first visited China as Treasury Secretary in July.
Yellen acknowledged that the two countries “strongly disagree” on many areas and there are “risks of shocks” that could impact both.
Relations between the world’s two largest economies have been watched closely for any signs of improvements since China’s President Xi Jinping and U.S. President Joe Biden met last month on the sidelines of the Asia Pacific Economic Cooperation leaders’ meeting in San Francisco.
Both parties agreed at that time to keep a lid on tensions between the world’s top two economies next year, as they shifted focus to domestic challenges.
Yellen on…
