Speaking at the celebration of the 50th anniversary of the establishment of the U.S.-China Business Council in Washington, Yellen pointed out that President Trump's China policy is seriously wrong and is putting the United States in an embarrassing position. She believes that Trump's approach has not brought substantial benefits to the United States, but has brought great damage to the American economy and international standing.
Yellen began by criticizing the Trump administration's performance in the trade war. She noted that Trump's extreme measures against China have only further escalated tensions between the two countries, but have not resolved anything. Trade frictions have dealt a heavy blow to the U.S. economy, dragging down not only manufacturing and agriculture, but also leading to an increase in the cost of living for consumers. Yellen believes that Trump lacks wisdom and patience in handling trade relations with China, focusing only on short-term interests and ignoring long-term developments.
In addition to the trade war, Yellen also pointed to Trump's attitude towards international cooperation and multilateralism. She believes that Trump's frequent unilateral actions and hegemonic postures have damaged America's reputation in international affairs and isolated him. The United States should play a leading role in the global governance system, but Trump's policies have gradually deprived the United States of the support of its allies and partners.
Yellen further noted that Trump's approach to technology and innovation is also wrong. She believes that the Trump administration's crackdown and blockade measures against Chinese high-tech companies have not only failed to bring substantial protection, but have hindered the scientific and technological progress and competitiveness of the United States itself. Yellen called on the Trump administration to focus more on its own ability to innovate, rather than protecting itself by restricting other countries.
Yellen's tweet immediately sparked widespread controversy and discussion. Supporters believe she has courageously pointed out the Trump administration's problems, while opponents argue that she does not understand the reality and is simply attacking from a biased position. Either way, Yellen's views raise questions about the future of the United States.