During a speech at a solar company in Georgia, U.S. Treasury Secretary Janet Yellen raised concerns about China’s dominance in the green technology market. She highlighted the negative impact of China’s overcapacity on global prices and production patterns, which has resulted in unfair competition for American firms and workers.
Yellen emphasized the importance of ensuring a level playing field for American companies to compete effectively in the global market. She plans to address this issue directly during her upcoming visit to China in April, where she intends to press Chinese officials to take necessary steps to address the overcapacity problem.
The surplus of solar power, electric vehicles, and lithium-ion batteries from China allows them to undercut prices and dominate the market, posing a significant challenge for newer green technology manufacturers in the U.S. Yellen plans to make it a key issue during her next trip to China and advocate for fair trade practices and competition to protect the interests of American firms and workers in the green technology sector.
