Yellen, Canada's Freeland present united front on Ukraine, economic
challenges
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[June 21, 2022] By
David Lawder
TORONTO (Reuters) - U.S. Treasury Secretary
Janet Yellen met with Canadian Finance Minister Chrystia Freeland on
Monday, pledging cooperation on issues ranging from sanctions against
Russia to increasing energy production and strengthening supply chains.
The Treasury said that Yellen during the visit will highlight strong
economic ties between the two North American allies, visiting a business
incubator and participating in a public forum at the University of
Toronto.
"I am very much looking forward to discussing with Secretary Yellen the
shared economic challenges that both of our countries face," Freeland
said as the two finance ministers began a bilateral meeting.
Issues include strengthening sanctions against Russia and pushing
forward with global tax reform, Freeland said.
"We can also work together to boost production of energy that European
and other countries very much need," Yellen said, adding that they would
also discuss medium-term plans to transition to cleaner energy sources.
The two finance ministers will discuss efforts to reduce inflation, the
Treasury said in a statement.
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![](../images/062122PIX/busine49.jpg)
Candian Foreign Minister Chrystia Freeland speaks to journalists
outside the U.S. Trade Representative's office in Washington, U.S.,
August 28, 2018. REUTERS/Chris Wattie/File Photo
![](http://archives.lincolndailynews.com/2022/Jun/21/images/ads/current/2022%20Business%20Directory%20Cover%20lda%202022.png)
"They'll also discuss joint efforts to mitigate the global consequences being
felt because of Russia's aggression, including the need to boost production of
fossil fuels in the short term to address high gas and energy costs, and
reiterate the importance of adopting clean energy technologies that break our
dependence over the medium-term," Treasury said.
The visit is the first to Canada for Yellen as Treasury secretary. On Tuesday,
Yellen will visit the Rosebud Sioux Tribe in South Dakota to discuss the impact
of $20 billion in funding for tribal communities made available in last year's
American Rescue Plan COVID-19 aid legislation.
(Reporting by David Lawder; Editing by Sam Holmes and Richard Pullin)
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