Yellen urges constructive US-China relationship amidst tensions and national security concerns.

Treasury Secretary Janet Yellen called for better US-China relations and cooperation on global challenges while supporting economic restrictions on China to advance US national security interests. Yellen criticized China's business and human rights abuses in Xinjiang, Hong Kong, and Tibet but struck a conciliatory tone, saying that both countries can benefit from healthy economic competition. The relationship between the two countries has become increasingly strained due to China's growing ties with Russia and the discovery of a Chinese surveillance balloon in US airspace. Yellen said US national security is of paramount importance in the relationship with China and that the US is considering a program to restrict certain US outbound investments in specific sensitive technologies with significant national security implications.