China’s Oversupply of Green Technology Threatens American Manufacturers, and U.S. Treasury Secretary Janet Yellen Takes Action

During a speech at a solar company in Georgia, U.S. Treasury Secretary Janet Yellen expressed concerns about the impact of China’s surplus of green technology exports on American manufacturers. She highlighted the negative effects of China’s overcapacity on global prices and production patterns, leading to unfair competition for American firms and workers.

Yellen emphasized the importance of ensuring a level playing field for American firms and workers in the global market, and plans to address this issue directly during her upcoming visit to China in April. She stated that discussions about overcapacity with China have taken place previously, and she intends to make it a key issue during her next trip to China.

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. By advocating for fair trade practices and competition, Yellen aims to protect the interests of American firms and workers in the green technology sector.