Yellen Warns China’s Excess Exports of Green Technology Could Harm US Manufacturers

During a speech at a solar company in Georgia, US Treasury Secretary Janet Yellen expressed concern about China’s excess exports of green technology that could potentially hurt US manufacturers of the same items. Yellen pointed out that China’s excess capacity in solar energy, electric vehicles and lithium-ion batteries enables the sale of these products at lower prices in other countries, thereby undermining the competition of American manufacturers. She plans to address the 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 those around the world. She intends to press her Chinese counterparts to take the necessary steps to address the issue during her upcoming trip.

In her speech, Yellen stressed the need for American firms and workers to be able to compete on a level playing field. She stated that the discussion of excess capacity was a priority in previous talks with China and will continue to be a key issue during her next visit.