Yellen, US Treasury Secretary, Arrives in China... Likely to Continue Export Control Disputes

Discussion on Economic Issues Including 'Ridisking'
China's Ministry of Commerce: "Not Targeting Specific Countries
Guidelines Were Announced in Advance"

U.S. Treasury Secretary Janet Yellen arrived in Beijing, China, on the afternoon of the 6th, according to local media reports. Secretary Yellen is scheduled to stay until the 9th and hold a series of meetings with key figures in China's economic leadership, including Premier Li Chang, Vice Premier He Lifeng, and Minister of Finance Liu Kun.

The United States and China continue a tense standoff in advanced technology and trade sectors. China has established export control policies on gallium and germanium, critical materials for semiconductors, while the U.S. government has indicated the possibility of retaliatory measures in coordination with its allies.

Tensions have escalated particularly after China sanctioned U.S. semiconductor company Micron in May and then decided on export controls for gallium and germanium on the 3rd. The U.S. is also attempting to strengthen its negotiating position ahead of Yellen's visit by countering China's semiconductor equipment export controls.

Additionally, the two countries are expected to comprehensively discuss economic issues including the U.S.'s high tariffs on China, exchange rates, and the recent U.S. advanced technology industry supply chain restructuring under the new banner of "de-risking."

The Chinese Ministry of Finance announced on its website on the 3rd that Janet Yellen, the U.S. Secretary of the Treasury, is scheduled to visit China from the 6th to the 9th. The U.S. Treasury Department also issued a statement saying that Secretary Yellen plans to discuss the importance of cooperation to responsibly manage bilateral relations and engage in direct communication on matters of mutual concern. The photo shows Secretary Yellen attending a hearing at the U.S. Congress in Washington, D.C., on June 13 (local time). [File photo] 2023.07.03 [Image source=Yonhap News] Photo by Yonhap News

The Chinese Ministry of Commerce stated on the same day that "China's export controls are not targeted at any specific country" and that it had informed the U.S. and Europe of the relevant policies in advance.

According to local media, Ministry of Commerce spokesperson Xu Zheting said, "Items related to gallium and germanium clearly have dual-use properties for both military and civilian purposes," and added, "Export controls on gallium and germanium-related items are internationally accepted practices, and major countries around the world universally control certain items."

He emphasized, "The purpose of the Chinese government controlling exports of gallium and germanium-related items based on law is to ensure their legitimate use, safeguard national security, and better fulfill international obligations." The Ministry of Commerce criticized the U.S. for causing damage to the global market through semiconductor export controls.

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