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US Treasury chief decries debt 'brinkmanship'

Janet Yellen United States Donald Trump G7 Japan Joe Biden Niigata

US Treasury Secretary Janet Yellen has warned of the "catastrophe" a US debt default could bring. (Photo: AFP)

NIIGATA, Japan: Political brinkmanship over raising the US debt ceiling risks "serious economic costs" even without the "catastrophe" of a default, Treasury Secretary Janet Yellen warned Thursday at G7 finance talks in Japan.

Hours earlier, former president Donald Trump urged Republican legislators to trigger the first-ever US debt default by refusing to lift the limit if Democrats do not agree to spending cuts.

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