Yellen won’t rule out more protections for US clean energy sector amid China’s excess capacity

by david lauder

ANCHORAGE, Alaska (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday would not rule out additional steps to protect U.S. clean energy industries from excess investment and production capacity from China, but she declined to say whether she would be in talks. Will increase the possibility of new tariffs. Chinese officials.

Yellen told reporters during a fuel stop in Alaska on her second trip to China for economic talks that the Biden administration is serious about nourishing US supply chains for electric vehicles, EV batteries, solar panels and other key products.

When asked whether she would risk new trade barriers in negotiations, she said, “We are providing tax subsidies to some of these sectors, and I don’t want to rule out other possible ways we would protect them ” with their Chinese counterparts, without specifying whether those moves included tariffs.

“But I think it’s not just the United States, but many countries, including Mexico, Europe and Japan, that are feeling tremendous pressure from the massive investment in these industries in China,” Yellen said.

During a nearly weeklong visit to China’s southern factory and export hub, Guangzhou, and the capital Beijing, the Treasury Secretary intended to raise US concerns about China’s large and growing excess manufacturing capacity, particularly in new energy commodities. Is.

“We’re trying to foster an industry in solar cells, electric batteries and electric vehicles. And all of these areas are really where massive investment in China is creating tremendous potential,” Yellen said.

The Treasury Department said she would meet with her chief counterpart, Vice Premier He Lifeng, Guangdong province Governor Wang Weizhong and executives from U.S. companies in China.

She’ll hear first-hand about the business…

Read Complete News ➤

Benefits of eating guava for Americans