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Yellen Urges Less Dependence on Other Nations for Key Supplies

  • Treasury chief says she isn’t advocating protectionism
  • US ‘enormously dependent’ on China for rare earths, she says
Yellen said that she isn’t advocating that the US makes everything on its own, saying “that can go in a very protectionist and expensive direction.” 

Yellen said that she isn’t advocating that the US makes everything on its own, saying “that can go in a very protectionist and expensive direction.” 

Photographer: Sarah Silbiger/Bloomberg
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Treasury Secretary Janet Yellen said the US should work on shifting its dependence away from some rival nations for supplies of critical inputs as global supply-chain logjams have hurt the domestic economy.

“We saw during the pandemic that our supply chains were very brittle and really lacking in resilience,” she said Monday.