U.S. is pushing China to change a policy threatening American jobs, Treasury Secretary Yellen says
The Biden administration is pushing China to change an industrial policy that poses a threat to U.S. jobs, Treasury Secretary Janet Yellen said Monday after ending four days of talks with Chinese officials.She also said she and Chinese officials had "difficult conversations" about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.But the focus of her trip was industrial policy, and what the U.S. and Europe describe as manufacturing overcapacity in China. Wealthy nations fear a wave of low-priced Chinese exports that will overwhelm factories at home, undercutting prices from U.S. manufacturers and risking job losses.
Still, Yellen also stressed that the U.S. is seeking "a healthy economic re...
