US wants ‘constructive and equitable’ economic relationship with China, Yellen says

USA He wants to have a “constructive and equitable” economic relationship with China, although without compromising national security issues, his Treasury Secretary Janet Yellen said in a speech at Johns Hopkins University in Washington on Thursday, April 20.

“We seek a healthy economic relationship with China: one that fosters growth and innovation in both countries. A growing China that abides by international rules is good for the United States and the world,” Yellen said, according to excerpts of her speech released ahead of the event.

However, he assured that the United States will not compromise on issues of national security, “even when they require compromises with our economic interests.”

Last month, beijing He accused Washington of stoking tensions between the two powers and warned of the risk of “conflict.”

China and the United States are engaged in a fierce battle over the manufacture of semiconductors, the essential electronic components for smartphones, connected vehicles and military equipment.

In the name of national security, Washington has increased sanctions against Chinese chipmakers in recent months.

“These national security actions are not designed to allow us to gain a competitive economic advantage or to stifle China’s economic and technological modernization. While these policies may have economic repercussions, they are motivated by simple national security considerations,” Yellen stated.

Millionaire fine for the Chinese company Huawei

A historic $300 million fine was imposed on a supplier to the Chinese giant on Wednesday Huaweiin the crosshairs of Washington for reasons of cybersecurity and suspicions of espionage.

Besides, “we will continue to partner with our allies to respond to China’s unfair economic practices”warned the Secretary of the Treasury.

This comment comes after recent remarks by French President Emmanuel Macron that had raised doubts among Paris’s allies, including the United States.

On his return from Chinacalled on Europeans not to be “followers” of Beijing or Washington in Taiwan and to “rely less on the Americans” in defense matters. A few days later, he advocated for greater economic autonomy for Europe.