The US is concerned about China’s overproduction of electric vehicles, solar panels, semiconductors
GUANGZHOU, China – US Treasury Secretary Janet Yellen on Friday launched 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 US firms.
Yellen told Wang that she will emphasise the need for a "level playing field" for US workers and firms, and that Washington and Beijing must maintain open and direct communications on areas where they disagree. Yellen has shied away from raising any threats of new trade barriers, but said during her journey to Guangzhou she will not rule out more actions to protect a fledgling American supply chain for EVs, batteries, solar power and other goods from cut-price Chinese imports.
"While it is just basic economics that surplus products naturally seek out markets elsewhere once domestic demand is met, and Western nations have been doing that for centuries, when it comes to China, it becomes an "overcapacity problem" threatening the world," the China Daily said.
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