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Treasury Secretary Janet Yellen speaks to the Economic Club of New York luncheon, in New York, Thursday, June 13, 2024. Yellen said the U.S. ought to respond "when foreign subsidies threaten the viability of domestic firms" in strategic sectors like green energy. (AP Photo/Richard Drew)

Yellen says China's trade policies could 'interfere significantly' with US bilateral relationship

Treasury Secretary Janet Yellen says Chinese “overconcentrated supply chains” pose a threat to U.S. jobs and recent investments meant to build up the U.S. green energy sector

By Fatima Hussein
Published - Jun 13, 2024, 01:40 PM ET
Last Updated - Jun 13, 2024, 01:40 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen says Chinese “overconcentrated supply chains” pose a threat to U.S. jobs and recent investments meant to build up the U.S. green energy sector, and the Asian superpower's pursuit of its trade policies "may interfere significantly with our efforts to build a healthy economic relationship.”

She said the U.S. ought to respond “when foreign subsidies threaten the viability of domestic firms" in strategic sectors like green energy. There is particular concern that China’s green energy products will undermine massive climate-friendly investments made through the Democrats’ Inflation Reduction Act that President Joe Biden signed into law in August 2022.

Yellen's speech comes as former President Donald Trump presents his case before the Business Roundtable in Washington, an association of more than 200 CEOs, for why the economy would be better if he returned to the Oval Office.

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