<p>Biden Treasury Secretary Janet Yellen said during an interview over the weekend that the administration will take action to protect national security, even if it &#8220;harms our own narrow economic interests.&#8221;</p>
<p>Yellen made the remarks while in Beijing during an interview with CBS News&#8217;s &#8220;Face The Nation&#8221; with host Margaret Brennan.</p>
<p>Brennan asked Yellen if she had &#8220;a sense of what the retaliation will be from China&#8221; if the administration imposes further &#8220;restrictions on high-end technology sales&#8221; to the nation.</p>
<p>&#8220;Well, an objective of my trip was to explain that national security is something that we can&#8217;t compromise about and we will protect, and we will do so even if it harms our own narrow economic interests,&#8221; she said. &#8220;But that when we take such actions, which do have an effect on the Chinese economy, that we will make sure that they are transparent, narrowly targeted, and well explained.&#8221;</p>
<p>Yellen said she &#8220;certainly expressed concern&#8221; about China&#8217;s <a href="https://www.dailywire.com/news/china-restricts-export-on-2-minerals-that-could-damage-economy">decision</a> to restrict exports of two minerals critical to the U.S. economy and military.</p>
<p>&#8220;Our own actions are narrowly targeted to address national security concerns, and I- it&#8217;s not clear that the actions that the Chinese took are similarly narrowly targeted at their national security concerns,&#8221; she said. &#8220;So this is an area that I expressed concern about.&#8221;</p>
<p>She said she went to China to &#8220;make sure that we don&#8217;t engage in a series of unintended escalatory actions that will be harmful to our overall economic relationship with one another.&#8221;</p>
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<p>&#8220;And we have had very little contact, both senior officials, and also just the American people and the Chinese people who&#8217;ve had very little contact with one another over the last several years, in part because of COVID,&#8221; she said. &#8220;And that&#8217;s a situation where misunderstandings can develop. We have a new team on the economic side in Beijing, that it&#8217;s important to establish person-to-person relationships, and to open ongoing channels of communication, where concerns can be aired and discussed. And I do think my trip has been successful in forging those relationships and creating the opportunity for a deeper set of more frequent contacts at our staff levels.&#8221;</p>
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Biden Treasury Secretary: We’ll Take Action On China Even If It ‘Harms’ Our Economy

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Biden Treasury Secretary: We’ll Take Action On China Even If It ‘Harms’ Our Economy