TAIPEI (TVBS News) — Amid escalating U.S.-China tensions, U.S. Treasury Secretary Janet Yellen revealed in a CNBC "Squawk Box" interview on Monday (Nov. 20) that significant differences persist between U.S. President Joe Biden and Chinese President Xi Jinping regarding Taiwan's global status.
Following the conclusion of APEC last week, Biden reaffirmed the U.S. position on governance issues across the Taiwan Strait in a press statement. "The U.S. continues to adhere to a common understanding with China on the 'One China' policy. This position will remain consistent. I will not be changing the status quo," Biden stated.
While the U.S. officially recognizes the Chinese Communist Party (CCP) as the sole government of China, it also maintains that Taiwan is an autonomous territory, despite China's claims of sovereignty over the island.
The deadlock over Taiwan between Biden and Xi poses potential military consequences. In September, Taiwan's Minister of National Defense Chiu Kuo-cheng reported extensive Chinese military activities, including warships, drones, and bombers, near Taiwan's air and sea zones.
Officials express concern that China's military actions near Taiwan could inadvertently lead to direct confrontation and possibly trigger a larger conflict.
In response to the growing threat of China's military actions, Biden proposed a US＄105 billion assistance package, mainly for Ukraine and Israel, as tensions escalate in both countries. This package includes nearly US＄2 billion to enhance security in Taiwan and the broader Indo-Pacific region.