President-elect Joe Biden’s Treasury Secretary nominee, Janet Yellen, told a Senate hearing today that the Biden administration will use all available tools to address “China’s unfair and illegal trade practices.
In response to questions from the Senate Finance Committee, Yellen said China has been “hurting American businesses” with a range of policies, including illegal subsidies, dumping of products, theft of intellectual property and erecting barriers to U.S. goods.
Yellen agreed that “China is clearly our most important strategic competitor,” but unlike outgoing President Trump, she stressed the importance of “working with our allies” to combat this challenge.
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