In a speech at a Georgia solar company, U.S. Treasury Secretary Janet Yellen expressed her 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 emphasized the need for fair competition for American firms and workers, 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. She also 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.
During her upcoming trip to China in April, Yellen plans to address this issue and press her Chinese counterparts to take necessary steps to address it. She believes that fair competition is essential for the growth and success of American businesses and workers, and she will work tirelessly to ensure that they have an equal playing field.