US and China Agree to Hold Talks on China's Economic Model

GUANGZHOU, China — The U.S. and China agreed to hold talks that will address a key American complaint about China 's economic model , Treasury Secretary Janet Yellen said on the second day of an official visit to China .

“I think the Chinese realize how concerned we are about the implications of their industrial strategy for the United States, for the potential to flood our markets with exports that make it difficult for American firms to compete,” Yellen told reporters directly after the announcement. The official Xinhua News Agency said that the two sides had agreed to discuss a range of economic and financial issues including balanced economic growth in both the United States and China.

“It’s going to be critical to our bilateral relationship going forward and to China’s relationship with other countries that are important, and this provides a structured way in which we can continue to listen to one another and see if we can find a way forward that will avoid conflict," Yellen told reporters.

Yellen told reporters during an Alaska refueling stop en route to China that the U.S. “won’t rule out” tariffs to respond to China’s heavily subsidized manufacturing of green energy products.

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