Yellen Says US Investment Curbs Won’t ‘Fundamentally’ Hurt China
- Investment restrictions to be narrowly focused, she says
- Treasury chief speaks from G-20 meeting in Gandhinagar, India
US Treasury Secretary Janet Yellen said restrictions the Biden administration is crafting on outbound investments to China wouldn’t significantly damage the nation’s ability to attract US investment.
The restrictions would be “narrowly targeted” and would focus on “a few sectors, in particular semiconductors, quantum computing, and artificial intelligence,” Yellen said Monday in an interview with Bloomberg Television. “These would not be broad controls that would affect US investment broadly in China, or in my opinion, have a fundamental impact on affecting the investment climate for China.”