Yellen’s Concerns: China’s Green Technology Export Surplus Undercutting American Manufacturers

During her speech at a Georgia solar company, U.S. Treasury Secretary Janet Yellen expressed concerns about the potential harm of China’s surplus of green technology exports on American manufacturers of the same items. She emphasized 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 plans to address this issue during an upcoming visit to China in April, emphasizing the importance of fair competition for American firms and workers.

In previous discussions with China, discussing overcapacity has been a priority for Yellen. She intends to press her Chinese counterparts to take necessary steps to address this issue during her next visit. Yellen emphasized the need for American firms and workers to be able to compete on a level playing field, stating that addressing this issue is crucial for maintaining a healthy global economy.