Economics
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.”
Photographer: Sarah Silbiger/BloombergThis article is for subscribers only.
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.