Treasury Secretary Janet Yellen to Visit Beijing in Effort to Strengthen U.S.-China Relations

Treasury Secretary Janet Yellen will travel to Beijing this week in an effort to improve U.S.-China relations, a senior Treasury official said Sunday. The trip is intended to “deepen and increase the frequency of communication between our countries moving forward and to stabilize the relationship, avoid miscommunication and expand collaboration where we can,” the official said.

During her visit, Yellen is expected to discuss a number of macroeconomic and financial issues, as well as how the U.S. and China can “responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges.” Yellen will meet with Chinese officials, U.S. companies doing business in China and with Chinese people and will stay through July 9.

Yellen has previously called the notion of an economic decoupling from China “disastrous,” and has said that the two nations “can and need to find a way to live together” in spite of their strained relations over geopolitics and economic development. She has also expressed a desire to visit China in the past year.

The Biden administration has been working to thaw U.S.-China relations since taking office in January. Yellen’s visit is seen as a continuation of this effort, and could potentially lead to improved communication and collaboration between the two countries. It is unclear what specific agreements or initiatives may come out of the trip, but it is expected to be a step forward in the ongoing effort to improve U.S.-China relations.