China lockdowns impacting supply chain recovery, economic slowdown risks spillovers
"Certainly the lockdowns look like they are impeding the production and flow of goods and services, given how extensive they are, and compounding supply chain difficulties that we have had that have boosted prices," Yellen told reporters at a press conference before meeting the finance officials of the Group of Seven (G7) countries, in Germany
• Yellen expressed concerns over lockdowns in China, which are affecting global supply chain, and may have spillover effect
• She is advocating within Biden administration for eliminating some tariffs on Chinese imported goods
US Treasury Secretary Janet Yellen on Wednesday said the COVID-19 lockdown in China is hampering global supply chains, and a broader slowdown in growth in the world's second-largest economy could have global spillover effects.
"Certainly the lockdowns look like they are impeding the production and flow of goods and services, given how extensive they are, and compounding supply chain difficulties that we have had that have boosted prices," Yellen told reporters at a press conference before meeting the finance officials of the Group of Seven (G7) countries, in Germany.
