In this episode of “Face the Nation,” hosted by Margaret Brennan, we delve into various pressing issues including climate change, the global economy, and the conflict in Eastern Europe. These topics are particularly pertinent as President Biden prepares for a crucial summit with NATO allies overseas. While record-breaking heat sends Americans seeking cooler temperatures, even President Biden himself took a brief beach getaway before departing for Europe. Climate change is just one of the many challenges our world faces today. We had the privilege of speaking exclusively with Treasury Secretary Janet Yellen in Beijing, where she discussed her efforts to reduce tension between the world’s two largest economies amidst escalating trade disputes.
Meanwhile, the war in Ukraine has reached its 500th day, prompting President Biden to make a difficult decision to provide controversial cluster bombs to aid in defeating the Russians. Joining us to shed light on this matter are Delaware Democrat Senator Chris Coons and Ukrainian Ambassador to the U.S. Oksana Markarova. Additionally, we will explore the new initiatives by governors across the nation, including Utah’s Republican Governor Spencer Cox, to address children’s mental health.
Lastly, after enduring a week of scorching temperatures, we explore whether it can get any hotter. NASA’s chief scientist and climate advisor, Kate Calvin, will join us to provide insights on the matter. Stay tuned for an enlightening episode of Face the Nation.
Good morning and welcome to Face the Nation. Later in this broadcast, we will delve deeper into the intense heatwave sweeping across the country. However, we must alert you that this extreme weather is expected to intensify.
Another issue heating up is the trade disputes between the United States and China. Janet Yellen is the second Cabinet secretary to embark on a goodwill mission to Beijing in recent weeks. We had an exclusive conversation with her prior to her departure from China.
During this conversation, Yellen discussed her constructive visit, warm welcome, and substantive meetings with Chinese officials. They tackled topics such as the global economy, developments in both economies, financial markets, and concerns from each side. Yellen also addressed concerns about American firms facing intimidation from Chinese authorities and emphasized the need for further discussions to address these issues.
The Biden administration has implemented national security-focused measures that impact trade and the economy, including restrictions on high-end technology sales. They are also considering restrictions on computer chips related to artificial intelligence and cloud computing. Yellen stressed the importance of transparency, narrow targeting, and clear explanations when implementing actions that affect the Chinese economy. She also highlighted how China also protects its national security through export controls and outbound investment restrictions.
In response to a question about an executive order that would restrict American investments in China, Yellen clarified that no final decision has been made, but the administration is carefully considering the matter. She expressed concerns about China’s recent action to block the export of critical minerals essential for computer chips and emphasized the importance of targeted actions that address national security concerns.
Yellen’s goal is to prevent unintended escalations that could harm the overall economic relationship between the US and China. She highlighted the need for improved communication and person-to-person relationships between both countries to address concerns and foster a deeper understanding. Yellen also discussed the slowing Chinese economy and the policy actions China is taking to stimulate growth.
As we explore these issues, we aim to provide a deeper understanding of the challenges our world faces and shed light on potential solutions. Stay tuned for an insightful episode of Face the Nation.
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