Treasury Secretary Janet L. Yellen on Friday criticized the Chinese government’s harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration’s efforts to make U.S. manufacturers less reliant on China.
Ms. Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China.
Her comments, to a group of executives from American businesses operating in China, underscored challenges that the world’s two largest economies face as they look to move beyond their deep differences.
In March, the Chinese authorities detained five Chinese nationals working in Beijing for the Mintz Group, an American consulting company with 18 offices around the world, and closed the branch.
The next month, the authorities questioned employees in the Shanghai office of Bain & Company, the U.S. management consulting firm.
Persons:
Janet L, Yellen, I’ve, Ms, “ I’ve
Organizations:
Biden, American Chamber of Commerce, U.S, ”, Boeing, Bank of America, Cargill, Group, Bain & Company
Locations:
China, Beijing, United States, American, Shanghai, U.S