Today: May 30, 2024
Today: May 30, 2024

Yellen says China's overproduction of clean energy goods needs mitigation

Share This
Yellen says China's overproduction of clean energy goods needs mitigation
April 16, 2024
Reuters

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said that China's massive investments in advanced manufacturing of clean energy goods has resulted in an unfair playing field that puts U.S. workers and businesses at risk, and it needs to be mitigated.

Yellen told reporters on the sidelines of the International Monetary Fund and World Bank spring meetings that overproduction of electric vehicles, batteries, solar panels and other goods could put firms in the U.S. and other countries out of business while Chinese firms continue to receive support.

"So this isn't a level playing field. And from a supply chain standpoint, I think it creates risks that we're clearly seeking to mitigate and it's also unfair to our workers and firms," Yellen said as she prepared to start a new round of meetings with Chinese officials.

(Reporting by David Lawder; Editing by Chizu Nomiyama)

Popular

Emerging market credit ratings are finally looking up again

From Brazil, Nigeria and Turkey to even some of the riskiest emerging markets such as Egypt and Zambia, evidence is growing that a decade-long deterioration in

Emerging market credit ratings are finally looking up again

What New Caledonia riots mean for the nickel industry

A wave of civil unrest in New Caledonia, a French overseas territory in the southern Pacific that is a leading nickel producer, has halted mining operations and

What New Caledonia riots mean for the nickel industry

Cancer victims sue Johnson & Johnson over 'fraudulent' bankruptcies

A group of cancer victims sued Johnson & Johnson on Wednesday, accusing the healthcare company of committing fraud through repeated and continued efforts to use

Cancer victims sue Johnson & Johnson over 'fraudulent' bankruptcies

EU Tax Observatory eyes broader G20 support for minimum tax on billionaires

A minimum tax on billionaires is likely to gain wider traction among the G20 group of the world's largest economies as they get clarity on the

EU Tax Observatory eyes broader G20 support for minimum tax on billionaires

Japan issues fresh warning on yen drops, signals readiness to intervene

Japan stands ready to take appropriate action in the market "any time" to counter excessive moves in the yen, its top currency diplomat Masato Kanda said on

Japan issues fresh warning on yen drops, signals readiness to intervene

Related

Italy scales back plans to sell stake in Poste

Italy scales back plans to sell stake in Poste

US Labor Department sues Hyundai, suppliers in Alabama over alleged child employment

US Labor Department sues Hyundai, suppliers in Alabama over alleged child employment

Hormel Foods quarterly sales miss estimates as retail business lags

Hormel Foods quarterly sales miss estimates as retail business lags

Japan, at G7 meet, renews push to keep yen bears in check

Japan, at G7 meet, renews push to keep yen bears in check
- Advertisement -
Advertisement: Limited Time Offer