(NewsNation) — Treasury Secretary Janet Yellen called for cooperation when it comes to U.S.-China relations as tensions between the two countries continue to rise.
Yellen called for for more cooperation as she addressed the John Hopkins University’s School of Advanced International Studies. Tensions between the U.S. and China have been heating up, with the most recent incident being the discovery of secret Chinese police stations operating in the U.S.
“We seek a healthy economic relationship with China: one that fosters growth and innovation in both countries,” Yellen said.
At the same time, Yellen noted that national security remains a top priority when it comes to China, even if that comes at the expense of economics, as any potential U.S. sanctions against China could hurt the U.S. dollar.
Lawmakers have shown increasing concern over the country, after a Chinese spy balloon was discovered over the U.S. China’s exercises near Taiwan and support of Russia’s invasion of Ukraine have also been a source of tension between China and America.
“Ending Russia’s war is a moral imperative,” Yellen said, adding that it would also be the single best thing that could be done for the U.S. economy. “It is essential that China and other countries do not provide Russia materials support or assistance with sanctions evasion.”
Lawmakers have already worked to block the export of high-tech computer chips to China, in hopes of decreasing the country’s ability to create more advanced military equipment. In a potential economic bill, lawmakers have also banned imports from China’s Xinjiang region over concerns about human rights abuses and the use of forced labor involving Uyghurs and other ethnic minorities.
Yellen reiterated America’s commitment to combating human rights abuses, including the detention of minorities and the use of forced. labor.
There are also moves to ban the popular social media app TikTok, which is owned by Chinese company ByteDance, over concerns that it could be used to collect intelligence on U.S. citizens. In some areas, lawmakers are also working to limit the ability of foreign nationals, in particular those from China, to buy property over national security fears.
“We will secure our national security interests and those of our allies and partners, and we will protect human rights” Yellen says in her speech. “We will clearly communicate to the PRC our concerns about its behavior.”
Yellen called out China’s intellectual property theft and the fact China requires non-Chinese businesses to meet additional requirements, including turning certain information over to the government, in order to operate there. She also noted China’s history of using economic actions as punishment for government or diplomatic actions.
“As we press China on its unfair economic practices we will continue to take coordinated actions with our allies and partners in response,” Yellen said.
Yellen also called for cooperation on climate efforts as China and the U.S. are the top two countries for greenhouse gas emissions.
“We stand ready to work with China on the existential issue of climate change,” Yellen said.
Yellen closed her speech by saying the Biden administration does not view relations with China as a competition, where one country must fall for the other to rise. The world is big enough for both countries, she said.
The Associated Press contributed to this report.
