Yellen: If the US side is willing to cancel some tariffs, China may withdraw additional countermeasures.

On April 14, former U.S. Treasury Secretary Yellen said in an interview with Bloomberg Television that if the U.S. side is also willing to remove some tariffs, China may withdraw the countermeasures recently added. She also believed that China hopes to ease the tariff disputes between the two sides and will not dump the U.S. Treasury bonds it holds.

Yellen said, "If China dumps dollars, it will not only push up the exchange rate of the renminbi and weaken its own export competitiveness, but also may impact the U.S. Treasury market, disrupt global financial stability, and ultimately harm China's own interests. Moreover, this approach would be a serious escalation, and I don't think China would easily take such a step."

She also expressed concern that if the deadlock persists and neither side yields, there is a danger of decoupling in Sino-U.S. trade.

Original article: https://www.toutiao.com/article/1829508504149396/

Disclaimer: This article only represents the author's personal views.