Treasury Secretary Janet Yellen to Visit China to Discuss Recent Laws and Improve U.S.-China Relations

Treasury Secretary Janet Yellen is set to travel to China this week to meet with senior government officials and U.S. firms doing business in the country. This visit follows President Biden’s directive to deepen communications between the two countries after his meeting with President Xi Jinping last year.

The trip comes after China recently passed a broadly written counterespionage law that has sent a chill through the foreign business community, with offices being raided, as well as a law to sanction foreign critics. The U.S. has recommended Americans reconsider traveling to China due to arbitrary law enforcement and exit bans, as well as the risk of wrongful detentions.

Last week, China also passed a sweeping Foreign Relations Law that threatens countermeasures against those seen as harming China’s interests. This was followed by the sentencing of a 78-year-old U.S. citizen to life in prison on spying charges in May.

Yellen’s visit is expected to focus on the importance of the two countries to global economic stability. While in Beijing, she will also discuss the recent laws passed by China and the implications of them on U.S. citizens and businesses. It is hoped that Yellen’s visit will help to improve the relationship between the two countries and create a more secure environment for U.S. citizens and businesses in China.