US, China should continue talks to avoid tit-for-tat measures

Global economy will suffer if two largest economies escalate restrictions

2023-07-13 Editorial Yellen China

U.S. Treasury Secretary Janet Yellen shakes hands with Chinese Vice Premier He Lifeng during a meeting at the Diaoyutai State Guesthouse in Beijing on July 8. (Pool via Reuters)

U.S. Treasury Secretary Janet Yellen recently completed her first visit to China since taking office. There are no signs of improvement in the frosty bilateral relationship, however, as Beijing is moving ahead with new export restrictions on rare metals used in semiconductors. The two sides should continue dialogue and refrain from using economic measures to trade blows.

During her visit, Yellen met with Chinese Premier Li Qiang, President Xi Jinping's closest ally, and Vice Premier He Lifeng, who oversees economic policy.

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