US Treasury Secretary Janet Yellen Addresses China’s Green Technology Surplus and Calls for Fair Competition

During a speech at a Georgia solar company, U.S. Treasury Secretary Janet Yellen expressed concerns about China’s surplus of green technology exports potentially harming American manufacturers of the same items. Yellen pointed out that China’s overcapacity in solar power, electric vehicles, and lithium-ion batteries allows them to sell these products at lower prices in other countries, thus undercutting competition from American manufacturers. She plans to address this issue during an upcoming visit to China in April, emphasizing the importance of fair competition for American firms and workers.

Yellen highlighted the negative impact of China’s overcapacity on global prices and production patterns, stressing that it hurts not only American firms and workers but also those around the world. She intends to press her Chinese counterparts to take necessary steps to address this issue during her upcoming trip.

Yellen emphasized the need for American firms and workers to be able to compete on a level playing field, stating that discussing overcapacity has been a priority in previous discussions with China and will continue to be a key issue during her next visit.