Yellen launches contentious meetings on Chinese excess production threat
© Reuters. U.S. Treasury Secretary Janet Yellen arrives at Guangzhou Baiyun International Airport, in Guangzhou, Guangdong province, China April 4, 2024. REUTERS/Tingshu WangGUANGZHOU, China - U.S. Treasury Secretary Janet Yellen on Friday kicks off four days of talks with senior Chinese officials expected to focus heavily on spillovers from China's excess manufacturing capacity and an increasingly challenging business climate for U.S. firms.
Some trade experts see the increased U.S. criticism of China's production-focused, subsidy and debt-driven economic model as an initial step towards raising U.S. tariffs on Chinese EVs and clean energy goods to protect U.S. industry. Chinese state media are pushing back on U.S. concerns about manufacturing capacity as a"China-bashing" double standard.
Lago also reaffirmed the goal of a healthy trade and investment relationship"that benefits U.S. workers and businesses, while underscoring that the United States will not negotiate on issues related to U.S. national security," Commerce said.
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