Treasury Secretary Nominee Janet Yellen: Take on China’s Abusive Practices

Biden’s pick for Treasury Secretary, Janet Yellen, had a confirmation hearing at the Senate on Tuesday.

She expressed concern about the China threat and called for spending on infrastructure and development to counter it.

“We need to take on China’s abusive, unfair and illegal practices, China’s undercutting American companies by dumping products, erecting trade barriers, and giving illegal subsidies to corporations. It’s been stealing intellectual property and engaging in practices that give it an unfair technological advantage, including forced technology transfers. And these practices, including China’s low labor and environmental standards, are practices that we’re prepared to use the full array of tools to address. Of course, it is important over time to work with our allies.”