Yellen says US would consider imposing tariffs, other trade barriers on China

Treasury Secretary Janet Yellen said the United States would consider imposing tariffs and other trade barriers on China to protect industries affected by Beijing’s production expansion.

“We’re trying to grow industries like solar cells, batteries, electric vehicles,” Yellen said Wednesday in Alaska, where she stopped before her trip to China, according to reports. Axios.

“I don’t want to exclude other possible ways we can protect them,” she said.

Yellen’s comments signal a desire by the Biden administration to curb the economic impact China has on flooding global markets with cheaper products, slowing demand for other products from competing countries.

Yellen said China has sparked “massive investment” in some industries where production is increasing, but demand has not fully caught up.

“I am concerned that Chinese subsidies for these industries are spilling over into the United States and other countries,” Yellen said. He added that he felt .

This is her second visit to China within the past year. The announcement was made after President Biden and Chinese President Xi Jinping met this week.

He has previously said that China’s increased production of electric vehicles, lithium-ion batteries and solar energy is creating unfair competition, “distorting global prices” and harming U.S. businesses and workers.

Ahead of her visit, she said she would “urge the Chinese side to take the necessary steps to address this issue.”