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)
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