“We are still evaluating the impact of these measures, but they remind us of the importance of building resilient and diversified supply chains,” Ms. Yellen said. He suggested that additional responses from the United States could be forthcoming to ensure that American businesses and workers are treated fairly.
“I will always champion your interests and work to ensure a level playing field,” Ms. Yellen added. “This includes coordinating with our allies to respond to China’s unfair economic practices.”
Businesses are also spooked by China’s ever-tightening national security laws, which include a tough counter-espionage law that came into force on Saturday. The US State Department issued a warning this week advising Americans to reconsider traveling to China because of the possibility of false detention.
Chamber President Michael Hart said American companies are trying to play a constructive role in the economic relationship between the United States and China.
“No matter what happens at the political level, we are trying to find common ground with our Chinese counterparts by working, producing, producing, buying, selling, paying taxes and doing everything in a way that reflects our values,” said Mr. Hart, who sat next to Ms. Yellen. And we believe it will benefit the US and China as well.”
The Treasury secretary plans to raise these issues during meetings with top Chinese officials over the next two days.
In addition to the business leaders, Ms. Yellen also met on Friday with Liu He, China’s former vice premier, and Yi Gang, the outgoing governor of the People’s Bank of China. A Treasury Department official said Ms. Yellen discussed the outlook for the economy in an informal discussion that lasted more than an hour with her former colleagues.
Later on Friday afternoon, he will meet with Premier Li Qiang at the Great Hall of the People.
Claire Fu Contributed report.
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