Yellen: US Looking Closely At Outbound Investment Controls On China

MNI London: US Treasury Secretary Janet Yellen has told Bloomberg that the US, "is looking carefully at outbound investment controls on China." Speaking to BBGTV at the G20 finance ministerial in India, Yellen said the measures, "would not be broad controls that would have fundamental impact on investment climate in China."

• Yellen cautioned that tariff removal is unlikely in the near future, saying that, "US tariffs on china reflected concern about unfair trade practices, those have not been addressed... we have to see what comes out of four-year review still underway."
• Yellen said told reporters yesterday that trade practices and tariffs are an area where progress can be made but warned that it’s “premature to use this as an area for de-escalation.”
• Yellen: “It would be useful to look for ways to de-escalate over time. We are completing a four year review. But I would say the tariffs were put in place because we had concern with unfair trade practices on China’s side.”
• On the Chinese economy, Yellen said "China has seen slower growth than expected" after Covid-19, adding that Chinese consumers are, "more focused on rebuilding savings."