During a recent visit to a solar company in Georgia, U.S. Treasury Secretary Janet Yellen expressed concerns about the negative impact of China’s overcapacity on global prices and production patterns in the green technology sector. Yellen highlighted the challenges American manufacturers face due to unfair competition from Chinese firms that have a surplus of green technology exports such as solar power, electric vehicles, and lithium-ion batteries.
To address this issue directly, Yellen plans to visit China in April and press Chinese officials to take necessary steps to reduce overcapacity in the green technology sector. She emphasized the importance of ensuring a level playing field for American firms and workers to compete effectively in the global market.
Yellen’s remarks underscored the urgency of addressing China’s surplus of green technology exports and its detrimental effects on American manufacturers. By advocating for fair trade practices and competition, Yellen aims to protect the interests of American firms and workers in the green technology sector.
In her speech, Yellen also highlighted discussions about overcapacity with China that have taken place previously, making it clear that she intends to make it a key issue during her next trip to China.
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