In 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. She 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.
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 in April.
She 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. Yellen also expressed hope that China will recognize the importance of fair competition for all countries and work towards finding solutions that benefit everyone involved.