6 Apr

Yellen Says U.S. Would Use Sanctions If China Invaded Taiwan

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Investing.com
By Bloomberg

Bloomberg. Janet Yellen, U.S. Treasury secretary, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 6, 2022. Yellen will warn that the war in Ukraine threatens to inflict

(Bloomberg) -- Treasury Secretary Janet Yellen said the Biden administration would be prepared to use all its sanctions tools against China if Beijing moved aggressively toward Taiwan.

I believe weve shown we can impose significant pain on aggressive countries, as evidenced by sanctions against Russia, Yellen told lawmakers Wednesday as she testified before the House Financial Services Committee. I think you should not doubt our ability and resolve to do the same in other situations.

Yellen was responding to questions from Republican Representative Patrick McHenry of North Carolina over whether the Treasury would be as willing to use sanctions against China as it has against Russia following Moscows invasion of Ukraine.

Read more: Yellen to Warn War Threatens Enormous Economic Repercussions

Russias attack on Ukraine has undermined confidence that world powers would be able to prevent a crisis from similarly erupting over Taiwan, a democratically governed island of more than 23 million people and key global source of semiconductors. China has long claimed Taiwan as a renegade province and threatened to invade to prevent its independence.

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