Janet Yellen plans July China trip while US preps investment curbs
- The US Treasury secretary is expected to hold the first high-level economic talks with her new Chinese counterpart He Lifeng
- Yellen would be the second US cabinet official to travel to Beijing after relations with Washington soured earlier this year
US Treasury Secretary Janet Yellen plans to visit Beijing in early July for the first high-level economic talks with her new Chinese counterpart, people familiar with the scheduling said.
Her trip was long anticipated but was put off until “the appropriate time”, Yellen said in April. The people discussed the timing and purpose of the trip on condition of anonymity, because the details have not been officially announced.
In addition, a Biden administration executive order that would regulate and potentially cut off certain US investments in China is nearing completion and officials are aiming to have it ready as soon as late July, people familiar with the internal deliberations said.
The Treasury chief would be the second US cabinet official to travel to Beijing after relations between the world’s two biggest economies soured earlier this year. Secretary of State Antony Blinken just wrapped up his trip to China, where he met his counterpart and also had a short audience with Chinese President Xi Jinping.
US and Chinese officials described the Blinken visit as productive and said the two sides had candid conversations on a range of issues.
An administration official said Monday that Yellen’s travel to China is not confirmed yet, while the executive order has not been finalised and does not yet have a timeline for issuance.