LIVE: US Treasury Secretary Janet Yellen holds news conference in China

Watch Janet Yellen's press conference at the U.S. ambassador's residence in Beijing. Yellen is the first Cabinet member to visit China since Presidents Joe Biden and Xi Jinping met in California in November 2023. #yellen #china #live

[ska]

*US Treasury Secretary Janet Yellen warned China on Monday (Apr 8) that Washington will not accept new industries being decimated by Chinese imports as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity.* 🤣🤣🤣

Yellen, making a second trip in nine months to further ease strained ties between the world's two largest economies, has voiced concern about China's fast-growing exports of electric vehicles, batteries, solar panels and other green-energy goods.

She has said China's state support has ramped up its production capacity far beyond what domestic demand can absorb.

Cheap Chinese exports threaten jobs in the US and elsewhere, she said, drawing parallels with the pain felt in the US steel sector in the past.

"We've seen this story before, " Yellen told reporters. "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."

She added, "I've made it clear that President Biden and I will not accept that reality again."

*YOU CAN SPONSOR UKRAINE'S WAR AND ISRAEL'S GENOCIDE, BUT YOU CAN'T SUBSIDIZE YOUR OWN INDUSTRIES AH?* 🤣🤣🤣

[shannonthomas]

Imagine standing in someone’s house and telling them how to spend their money, what work to do, who to shop and do business with and to stop being so successful. Never been clearer they know nothing of the Chinese

[seokoking]

US no longer the unipolar power it used to be. It's words carried feather weight. Her tone will be noted in Beijing.

[DeBeard]

Brazenly blah blah blah😅once china restarts buying in us long-term treasury bonds, this bs in others' houses gonna stop😅

[guens]

Overcapacity. You're begging and insulting the Chinese at the same time. China should ramp up production in every sector.

[danielhutchinson]

If the apparent lies of top Administration Officials were not so blatant and obvious,
they might find some acceptance anywhere beside Wall Street?
The promotion of US Investor Profits appears to be what is being defended .
The Average Citizen apparently is left to buy a Camper and seek a place to park

[LivingLonger]

Lowering the cost of products to benefit people around the world is not a top U.S. priority. The U.S. prioritizes protecting company profits. That is why more homeless, drug addicts and "flash mob" thefts are everywhere in U.S.

[WarnerElliott]

I thought that was George Washington 🤣🤣

[oklahoma]

Yellen USA do as USA says & OBEY ! a nice lady !

[helensweebe]

What is Captain Kangaroo, spewing lies about now???? She’s ignorant!

[prujhph]

If China overcapacity, but USA AI chip monopoly*

[gjfbuyv]

It is useless. Too simple and too naive.

[wingtip]

1/2 THERE YELLEN'S BRAIN FART'S