During a recent interview, US Treasury Secretary Janet Yellen emphasized that the United States is considering all options in response to China's overcapacity issues. Yellen stated that the US is closely monitoring the situation and is prepared to take action to address the issue.
China's overcapacity in various industries has been a point of contention between the two countries for some time. The excess production in sectors such as steel and aluminum has led to concerns about unfair trade practices and market distortions.
Yellen's comments come as the Biden administration continues to review its approach to trade relations with China. The US has expressed concerns about China's industrial policies and practices, including subsidies for state-owned enterprises and intellectual property theft.
Yellen highlighted the importance of addressing overcapacity in a way that is consistent with international trade rules. She emphasized the need for a coordinated approach with other countries to ensure a level playing field for all participants in the global economy.
While Yellen did not provide specific details on potential actions the US may take, her remarks signal a willingness to confront China on trade issues. The US has previously imposed tariffs on Chinese goods as part of efforts to address trade imbalances and unfair practices.
Overall, Yellen's comments underscore the ongoing challenges in US-China trade relations and the Biden administration's commitment to addressing issues such as overcapacity. The US will continue to engage with China on these matters while exploring all available options to promote fair and reciprocal trade.
