Treasury Secretary Janet Yellen testifies before the House Financial Services Committee during a hearing regarding the state of the international financial system at the Capitol in Washington, June 13, 2023
Treasury Secretary Janet Yellen will travel to Beijing Thursday as part of an ongoing Biden administration effort to thaw U.S.-China relations, a senior Treasury official said Sunday.
Yellen, who has called the notion of an economic decoupling from China “disastrous,” has frequently said in the past year that she would like to visit China.
She says the two nations “can and need to find a way to live together” in spite of their strained relations over geopolitics and economic development.
Yellen will meet this week with Chinese officials, U.S. companies doing business in China and with Chinese people and will stay through July 9, said the official, who spoke on condition of anonymity to discuss details of the trip.
The goal of her visit is to deepen and increase the frequency of communication between U.S. and China, the official said.
While there are clear areas of common interest where Yellen can make progress, the official said, there are also significant disagreements that will not be resolved through a single trip MDT/AP.
