Yellen says domestic investment should improve in the US before agreeing to new trade agreements



FILE PICTURE, Treasury Secretary Nominee Janet Yellen during an activity by now US President Joe Biden in Wilmington, Delaware, USA


© Reuters/LEAH MILLIS
FILE PICTURE, Treasury Secretary Nominee Janet Yellen during an activity by now US President Joe Biden in Wilmington, Delaware, USA

By Andrea Shalal and David Lawder

WASHINGTON, Jan 21 (Reuters) – Janet Yellen, President Joe Biden’s nominee for US Secretary of the Treasury, highlighted the new administration’s focus on domestic investment to improve the position of workers and infrastructure projects before embarking. in new trade agreements.

Yellen, whose nomination will be put to a vote in the Senate Finance Committee at 1500 GMT on Friday, also favored working more closely with allied countries to pressure China.

Asked by committee members whether the government would prioritize a trade pact with Taiwan, Yellen replied: “President Biden has made it clear that he will not sign any new free trade agreements before the United States makes significant investments in American workers and our infrastructure”.

“Our economic recovery at home must be our top priority,” he added.

At the same time, he said the new administration planned to pursue “a strong trade agenda” and would work closely with Biden to “reach out to our allies, rebuild bridges, and pursue trade deals that support American prosperity and put workers first. place, “according to a copy of his written responses to lawmakers after his confirmation hearing Tuesday.

(Reporting by Andrea Shalal and David Lawder. Edited in Spanish by Marion Giraldo)

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