Tag: United States

Yellen Urges China to Cooperate More on Climate Finance

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The Biden administration called on China on Saturday to do more to help developing countries combat climate change, urging the world’s largest emitter of greenhouse gases to back international climate finance funds that it has so far declined to support. Treasury Secretary Janet L. Yellen delivered the message during her second day of meetings in Beijing, where she is seeking to cultivate areas of cooperation between the United States and China. While China has expressed support for programs to help poor countries cope with the effects of climate change, it…

Janet Yellen Criticizes China’s Treatment of U.S. Companies

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Treasury Secretary Janet L. Yellen on Friday criticized the Chinese government’s harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration’s efforts to make U.S. manufacturers less reliant on China. Ms. Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China. Her comments, to a group of executives from American businesses operating in China,…

Yellen’s China Visit Aims to Ease Tensions Amid Deep Divisions

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The last time a U.S. Treasury secretary visited China, Washington and Beijing were locked in a trade war, the Trump administration was preparing to label China a currency manipulator, and fraying relations between the two countries were roiling global markets. Four years later, as Treasury Secretary Janet L. Yellen prepares to arrive in Beijing, many of the economic policy concerns that have been festering between the United States and China remain — or have even intensified — despite the Biden administration’s less antagonistic tone. The tariffs that President Donald J.…

Yellen to Visit China in Bid to Steady Economic Ties

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Treasury Secretary Janet L. Yellen will travel to China on Wednesday, a high-stakes visit that is intended to help stabilize the fraught relationship between the world’s two largest economies. The trip to China will be Ms. Yellen’s first as Treasury secretary and follows Secretary of State Antony J. Blinken’s visit last month. It comes at a moment of tension between the United States and Beijing following the discovery of a Chinese spy balloon traversing America earlier this year and Chinese frustration with the Biden administration’s efforts to block China from…

Tesla’s Second Quarter Sales and Deliveries Rise as Tax Credits Fuel Demand

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Tesla sales rose a better-than-expected 10 percent in the second quarter as the company led by Elon Musk benefited from government incentives and price cuts that made its electric cars less expensive than comparable gasoline models. Tesla delivered 466,000 vehicles from April through June, up from 423,000 vehicles in the previous quarter, the company said on Sunday. Compared with a year earlier, sales in the second quarter rose 83 percent as the company expanded production at new factories in Austin, Texas, and near Berlin. The sales figures exceeded estimates by…

Tesla Sales Surge as Tax Credits Fuel Demand

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Tesla sales rose 10 percent in the second quarter as the company led by Elon Musk benefited from government incentives and price cuts that made its electric cars less expensive than comparable gasoline models. Tesla delivered 466,000 vehicles from April through June, up from 423,000 vehicles in the previous quarter, the company said on Sunday. Compared with a year earlier, sales in the second quarter rose 83 percent as the company expanded production at new factories in Austin, Texas, and near Berlin. Rules that took effect this year allowed buyers…

Can China Export Its Way Out of Its Economic Slump?

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China dominates the global sale of solar panels and has caught up with Japan as the world’s largest car exporter. ‌It is even gaining in ‌the worldwide ‌sale of low-tech products like shoes. Now Beijing is weighing whether to deploy its considerable power as an exporter to try to stabilize an economy laboring under distinctly homegrown problems — a real estate crisis and weak spending by consumers still cautious after nearly three years of stringent pandemic restrictions. The decision could reverberate throughout the global economy and provoke a backlash among…

How Russia’s Allies May React to Prigozhin’s Mutiny Against Putin

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Even before President Vladimir V. Putin of Russia broke his public silence on Monday about the aborted mutiny that brought rogue troops to within 125 miles of Moscow, he was on the phone to the leaders of Iran, Qatar and other friendly countries, soaking up their expressions of support while presumably promising a return to stability. For Mr. Putin, who has cobbled together a surprisingly sturdy list of countries that either back his war on Ukraine or have stayed neutral, it was a much-needed display of mutual reassurance. Russia’s message,…

The U.S.-China Rivalry Is Complicating the World’s Debt Crisis

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Inside his capacious office, his tan curtains drawn against the tropical sun, the president of Suriname expressed sympathy with the striking teachers who were massing outside, taunting him while demanding higher wages. Three years of unmitigated catastrophe has destroyed spending power in this South American country — the result of global crises landing atop decades of profligate governance. Food and fuel prices have soared, worsened by Russia’s war on Ukraine. The national currency plunged, and the economy cratered just as the pandemic spread death and fear. “The heavy burden on…

U.S. Charges 4 Chinese Firms With Selling Chemicals to Make Fentanyl

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Four chemical companies based in China and eight Chinese nationals have been charged with trafficking chemicals used by Mexican drug cartels to manufacture vast quantities of fentanyl later sold in the United States, federal officials said on Friday. The officials said that two of the Chinese defendants — the principal executive and marketing manager of one of the companies — had been arrested recently overseas and taken to Hawaii for a court appearance, and that they would be brought to Manhattan to face prosecution. The new indictments unsealed on Friday…