Yellen Warns Against Flood of Heavily Subsidized Chinese Exports Undercutting US Industries

• Yellen warned US won't accept industries being decimated by cheap Chinese imports like steel sector 10 years ago • Raised concerns about China's weak domestic demand and overinvestment in EVs, batteries, solar • Massive past PRC government support led to below-cost steel that flooded market and hurt industries • Yellen said she made clear US won't accept that reality again of artificially cheap Chinese products • Such products put viability of American and foreign firms into question