Concerns Over Withdrawal of International Influence After US Presidential Election
U.S. Treasury Secretary Janet Yellen warned of the possibility that the United States might withdraw its influence from the international community after the presidential election in November, highlighting the role of Vice President Kamala Harris.
According to Bloomberg on the 25th (local time), Secretary Yellen said at a press conference in Rio de Janeiro, where she attended the G20 Finance Ministers meeting, "(Vice President Harris) deeply understands why it is necessary for the U.S. to restore leadership on the global stage and the importance of it," adding, "She also clearly and deeply understands what is needed to ensure American families prosper and move forward."
Yellen's remarks drew attention as they expressed close support for Vice President Harris while being mindful of the Hatch Act, which prohibits federal employees from engaging in political activities. Earlier, U.S. Secretary of State Antony Blinken also praised Vice President Harris as "a leading voice that asks profound questions." Former senior officials echoed Blinken's words, stating, "Over the past three and a half years, Vice President Harris has played an essential role in restoring America's global leadership."
The background behind these key cabinet members praising Vice President Harris's leadership is seen as an effort to compensate for her perceived weaknesses in diplomacy and national security. Bloomberg analyzed, "The Democratic Party is quickly positioning Harris as a heavyweight in foreign policy to neutralize Republican attacks while calming voters' anxieties. This is to elevate Harris's stature ahead of a major diplomatic test, her meeting with Israeli Prime Minister Benjamin Netanyahu."
On the same day, Secretary Yellen also spoke about former President Trump. While emphasizing that global cooperation best serves U.S. interests amid concerns that the next administration might turn toward isolationism, she warned of the risk that the U.S. could withdraw from the international stage once the White House occupant is decided in November. Regarding the anticipated changes to Russia sanctions if former President Trump wins the election, she explained, "There is bipartisan recognition that allowing Russia to trample on the independence and sovereignty of a country that did not provoke first is a threat to international security."
Additionally, Yellen reaffirmed the Group of Seven (G7) stance supporting market-determined exchange rates in response to former President Trump's recent remarks that a strong dollar harms U.S. export competitiveness. She said, "Over the past few years, the U.S. has pursued a tighter monetary policy than other countries, which has predictably led to a stronger dollar. The G7, including the U.S., follows market-determined exchange rates and agrees to intervene only through consultation in cases of excessive volatility."
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