During her speech at a Georgia solar company, U.S. Treasury Secretary Janet Yellen raised concerns about China’s dominance in the green technology market and its potential impact on American manufacturers. She pointed out that China’s overproduction of solar panels, electric vehicles, and lithium-ion batteries allows them to sell these products at lower prices in other countries, thereby undercutting competition from American manufacturers.
Yellen emphasized the need for fair competition and urged American firms to be able to compete on a level playing field. She 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.
In an upcoming visit to China in April, Yellen plans to address this issue with her Chinese counterparts and press them to take necessary steps to address it. She reiterated her call 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.