Janet Yellen has urged the EU to join US efforts in clamping down on Beijing’s green-tech exports, warning that a glut of cheap Chinese goods could threaten the survival of factories across the world.
The US and its western allies must react “in a united way” to China’s growing manufacturing power or put their own industries at risk, the Treasury secretary said in a speech in Germany on Tuesday.
Yellen also rejected criticism from European allies that the US’s own sweeping tax breaks and subsidies for green manufacturing represented “a turn towards American protectionism”.
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