Late yesterday, Facebook's parent company, Meta, launched a service called Threads. MARTIN: Now Mark Zuckerberg is trying to host the go-to place for online discourse. SCHMITZ: Many have tried to replace Twitter since Elon Musk took over the platform. NPR's Emily Feng in Taipei, thank you so much. Add to that, there's a new counterespionage law passed this year that's so broad American businesses are genuinely concerned that their normal activities could get them accused of being spies. There are new data control laws that make it really hard for companies to operate even there. China's passed these new laws that can let them sanction foreign companies. Really, there's only so much she can do, because right now, if you're a foreign business in China, the trends are pretty worrying. And do we have any idea whether she can make any headway on those objectives?įENG: That's the question. And, in fact, the two countries have a lot to cooperate on - for example, combating climate change and addressing global debt. And she's trying to convince China that this is not meant to completely decouple the two economies. interests, just as China does things to protect its interests that the U.S. companies are moving some of their supply chains away from China - this is being done to protect U.S.
Yellen's also in China this week to try to convince China that these export controls that China hates - the fact that U.S. They say that this is just to maintain contact so the two sides understand each other, even if they disagree with each other. But again, American officials are really downplaying expectations for her trip. and China agree on?įENG: Well, at least they both say they want to talk. There are so many things that the two sides disagree on. Now it's about geopolitical conflict, military conflict, potentially Taiwan, Hong Kong. And so Bown says Yellen needs to talk about not just trade imbalances now with China, but also national security concerns.īOWN: When President Trump was conducting his trade war, it seemed to just be all about the U.S.-China economic relationship in trade. And on top of that, you have new sources of friction - for example, American export controls to prevent China from getting certain advanced semiconductor technology. And so Yellen faces all these old challenges. None of those have been removed.įENG: That's because the Biden administration chose to keep these 25% tariffs on Chinese goods coming to the U.S. None of the tariffs that were imposed or that were in place as of when the - President Trump's Phase One agreement went into effect. And almost four years later, as Yellen lands in China today, he says this.ĬHAD P BOWN: The U.S.-China trade relationship is basically unchanged. He's a trade expert at the Peterson Institute for International Economics in Washington, D.C. Bown has been tracking those tariffs that were imposed during that trade war. And as you mentioned, the trade war was in its most intense period at that point.įENG: But all the issues that Yellen is up against are from that time period. And I'm having a little bit of deja vu, actually, because I started reporting on China for NPR in 2019. SCHMITZ: So what does Yellen hope to achieve with this trip, and what's she up against?įENG: Well, she's up against a lot. SCHMITZ: NPR's international correspondent Emily Feng has been following all of this from Taiwan. and China compete while they also cooperate? Since then, the trade relationship is even more strained. Treasury secretary visited China, Washington and Beijing were in a trade war. On the heels of a trip by Secretary of State Antony Blinken, Yellen has an agenda that includes meetings with China's new premier and other top officials who have a hand in the economy. Cabinet official to visit Beijing in a month. Treasury Secretary Janet Yellen is the second U.S.
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