Yellen Says U.S. Would Use Sanctions If China Invaded Taiwan -Breaking
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© Bloomberg. Janet Yellen, U.S. Treasury Secretary, addresses a House Financial Services Committee meeting in Washington, D.C., U.S. on Wednesday, April 6, 2022. Yellen will speak out about the dangers of war in Ukraine. (Bloomberg). — Janet Yellen, Treasury Secretary to the Biden Administration said that she would use every sanction tool against China if Beijing moves aggressively towards Taiwan.
“I believe we’ve 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 Moscow’s invasion of Ukraine.
Read more: Yellen to Warn War Threatens ‘Enormous Economic Repercussions’
Russia’s 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 claims Taiwan has been a rebel province for a long time and threatens to invade to stop its independence.
Last month, China warned the U.S. against trying to build what it called a Pacific version of NATO, while declaring that security disputes over Taiwan and Ukraine were “not comparable at all.”
(Additional background starts in the fourth paragraph.
©2022 Bloomberg L.P.
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