US Treasury Secretary Janet Yellen and Luxembourg Finance Minister Yuriko Backes on Monday engaged in significant discussions on international tax reforms, the Ukraine war, and the role of China, marking a pivotal moment in the bilateral relations between the two nations.
On Monday, the Eurogroup met in Luxembourg, giving finance ministers of different countries the opportunity to discuss the development of Europe's financial market.
Ahead of the summit, US secretary of the treasury Janet Yellen met with Luxembourg's Finance Minister Yuriko Backes to discuss bilateral relationships. This marked the first time a representative from President Joe Biden's administration has travelled to the Grand Duchy.
In their meeting, they discussed international tax reforms, the war in Ukraine, sanctions against Russia, and sanctions against Russia. Minister Backes underlined the significance of this meeting as the US represents Luxembourg's biggest economic partner in the financial sector.
According to the Finance Minister, Luxembourg has a responsibility when it comes to the sanctions against Russia. She further described China's stance following Russia's invasion of Ukraine to be troublesome.
"The positive message that [Secretary Yellen] gave me was that the US wants to continue building their dialogue with China. This has not worked very well lately, however, the commitment to upholding this communication is important", Backes explained and vowed that Luxembourg and Europe also try to uphold a dialogue with China.
Both government officials visited the American military cemetery in Hamm later on Monday.
At the Eurogroup meeting, further support to Ukraine was also an important topic of discussion. The meeting will continue Tuesday.
