Yellen Meets Top Chinese Officials to Ease Tensions, But Differences Persist on Economic Issues

• Yellen meeting with China's central bank chief and other officials to ease strained US-China ties and address concerns like excess industrial capacity • She argues Chinese state support has led to overproduction of things like EVs, threatening jobs in US and elsewhere • Chinese officials push back, saying US should not view economic issues as political/security ones • Yellen also discusses macroeconomic outlook and financial developments with Chinese finance minister • Chinese commerce minister objects to claims of excessive Chinese EV capacity, says companies rely on innovation not subsidies