Yellen Stands Firm Against Subsidized Chinese Imports to Protect U.S. Industries

U.S. and China Boost Financial Stability Cooperation with Joint Simulation Exercises

Yellen Stands Firm Against Subsidized Chinese Imports to Protect U.S. Industries

U.S. Treasury Secretary Janet Yellen issued a cautionary statement on Monday, emphasizing that the United States would stand against the undermining of new sectors by subsidized imports from China, reflecting on the past devastation of the U.S. steel industry. 

U.S. and China Boost Financial Stability Cooperation with Joint Simulation Exercises

Following a series of discussions with Chinese officials lasting four days, Yellen expressed at a press conference that the dialogues were beneficial for American interests.

During the talks, she voiced concerns regarding China’s insufficient internal demand and excessive investments in sectors like electric vehicles, batteries, and solar products, which are heavily supported by the government. 

She remarked, “We’ve seen this story before. Over a decade ago, massive PRC government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States,” referring to China by its official name, the People’s Republic of China. Yellen stated her and President Biden’s firm stance, saying, “I’ve made it clear that President Biden and I will not accept that reality again.

Yellen highlighted the risks posed when the global market becomes saturated with Chinese products priced below their actual cost, questioning the survival of American and other foreign companies.

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Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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