US Treasury Secretary Janet Yellen faces the tough job of stabilizing fractious US-China relations that worsened this week after China retaliated in a tech war with the United States, CNN reported.
During the first day of meetings in China, the US Treasury Secretary Janet L. Yellen criticized the punitive measures taken by the Chinese government against American firms, The New York Times reported.
US Treasury Secretary Janet Yellen on Thursday expressed "concern" over China's newly unveiled export controls on two strategic raw materials critical to the global chipmaking industry.
Yellen said that the "close collaboration" between India and the US showcases how "advanced and emerging economies" can bridge political differences and make progress on shared policy objectives.
"I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June and possibly as soon as June 1. And I will continue to update Congress, but I certainly haven't changed my assessment. So I think that that's a hard deadline," Yellen said on Sunday (
The comments from Yellen provided further evidence that Biden officials are starting to warm up to the idea of bank mergers despite concerns from progressives and the administration's own scrutiny of corporate concentration.
Finance Minister Nirmala Sitharaman on Tuesday met with US Treasury Secretary Janet Yellen on the sidelines of the World Bank and IMF Spring Meetings 2023 in Washington.
"And the reforms that have been put in place mean that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs," she added.
Yellen, who arrived in India for the G20 Finance Ministers meeting, held a meeting with the Chief of various IT companies like Infosys Technologies Limited Nandan Nilekani, Wipro's head Rishad Premji and others in Bengaluru.
The treasury secretary said, "We are doing this by strengthening integration with our many trusted trading partners -- including India. We are seeing progress; as an example; technology companies like Apple and Google have expanded their phone production in India."
United States Treasury Secretary Janet Yellen was speaking at the roundtable with US and Indian Tech Business Leaders in Bengaluru on the sidelines of the first Finance Ministers and Central Bank Governors meeting under the India's G20 Presidency.