Treasury Secretary Yellen: We value our trade and investment relationship with China, BUT.

Treasury Secretary Yellen comments more on the proposed China tariffs:

• Hopeful that China will see that U.S. actions on tariffs are targeted, will see what happens
• Asked if she will inform China ahead of any U.S. tariff action, says will ensure counterparts are informed
• China is pursuing a conscious industrial policy targeting investment in advanced manufacturing
• Virtually all Chinese investment that had been going into property sector is now going into advanced manufacturing
• We’ve been clear that we will take steps necessary to ensure U.S. firms are able to help satisfy domestic demand
• We’ve been clear that may reconfigure tariffs imposed under Trump in a ‘more strategic way’
• We value our trade and investment relationship with China, but have areas where we have disagreements with China

This article was written by Greg Michalowski at www.forexlive.com.