US treasury secretary is in China to talk trade

Treasury Secretary Janet Yellen embarked on a five-day visit to China, aiming to address tensions and define rules for competition between the two economic powerhouses.

Amid concerns over Chinese support for industries like electric vehicles and solar panels, and U.S. aid in similar sectors, Yellen outlined her agenda, which includes meetings with top Chinese officials, business leaders, and students.

She expressed worries about China flooding global markets with subsidized green energy products, undermining fair competition.

Yellen didn’t rule out further action against Chinese subsidies, highlighting concerns shared by various countries.

The visit follows a call between Presidents Biden and Xi, attempting to balance competition and cooperation, the Associated Press reported.

READ MORE: https://apnews.com/article/china-yellen-trade-solar-chips-manufacturing-f68bfec543be2b1e50d72d4dca4fea45

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