Janet Yellen wraps up China visit with firm message on trade

Wrapping her four-day visit to China, Treasury Secretary Janet Yellen delivered a firm message: the United States won’t tolerate another influx of artificially cheap Chinese goods that have historically harmed American industries.

Yellen’s remarks underscored the painful memory of the “China shock” from the early 2000s, which cost millions of American jobs.

She called on China to address the issue of industrial overcapacity in sectors like EVs, solar panels and lithium batteries, which are driven by substantial government subsidies.

Chinese Premier Li Qiang called on the US to view the industrial overproduction positively, saying it contributes “significantly to the green and low-carbon transition worldwide.”

Additionally, Yellen issued warnings to banks facilitating transactions benefiting Russia, stressing US sanctions as the consequences of such actions.

Yellen’s visit follows Beijing’s agreement to discuss trade tensions and to improve US-China relations amid ongoing disputes.

Meanwhile,
The internet has been closely following what Yellen ate during her trip.