Yellen, US Treasury Secretary, "Will Maintain China Tariffs Imposed by Trump"

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[Asia Economy Reporter Kwon Jae-hee] Janet Yellen, U.S. Treasury Secretary, has stated her intention to maintain the high tariffs imposed on China due to the trade war.

On the 18th (local time), according to CNBC, Secretary Yellen said, "For now, we plan to keep the tariffs imposed on China by the previous Trump administration."

She added, "We will continue to review and push for what we consider appropriate," and "We expect China to honor its trade commitments."

Earlier last month, the Biden administration announced it would thoroughly review all of former President Donald Trump's national security measures, including the interim trade agreement with China.

Among these, the Phase One trade agreement signed in January last year during the Trump administration was aimed at easing trade tensions between the U.S. and China.

At that time, China promised through the agreement to purchase $200 billion (approximately 221 trillion KRW) worth of U.S. products and services over the next two years. However, recent investigations show that China's purchases last year fell about 42% short of the original target.

Secretary Yellen further stated, "We are continuing to review our approach toward China, and there are several issues we consider unfair."

She cited China's trade practices, forced technology transfers, and subsidies to advanced technology sectors as representative problems, emphasizing, "We will ensure that China fulfills its international obligations in these areas."

Yellen's remarks, as a key figure in the Biden administration who will be deeply involved in coordinating trade issues with China, attract attention for their tone, which is almost as tough as that of Trump administration officials.

However, Secretary Yellen also noted that there are areas where cooperation between the two countries is necessary, such as ending the COVID-19 pandemic and addressing climate change.

Meanwhile, President Joe Biden has maintained a tough stance on China since taking office. Last week, President Biden warned that China would pay the price for human rights abuses.

This content was produced with the assistance of AI translation services.