Chip curbs loom large as U.S.'s Yellen meets with Chinese Premier Li

Treasury secretary calls for 'healthy economic competition,' more communication

20230706N Yellen and Li

U.S. Treasury Secretary Janet Yellen, left, shakes hands with Chinese Premier Li Qiang in Beijing on July 7. © Reuters

IORI KAWATE and KOSUKE TAKAMI, Nikkei staff writers

BEIJING/WASHINGTON -- Escalating semiconductor trade restrictions between the U.S. and China were likely one of the topics discussed at Friday's meeting between Treasury Secretary Janet Yellen and Premier Li Qiang, who appear to be on the same page on continuing dialogue but are still far apart on a number of issues.

"We seek healthy economic competition that is not winner take all, but with a fair set of rules will benefit both of our countries," Yellen said at the start of the meeting.

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