Yellen to Press China on Industrial Overcapacity During Upcoming Trip
• Yellen to urge China to address overcapacity issues in industries like steel, aluminum, solar, EVs, and batteries • Warns excess capacity could lead to cheap exports that undermine other countries' production and employment • Plans to press China on taking steps to deal with excess capacity on upcoming trip • Will tout benefits of Biden's Inflation Reduction Act and major investments it has spurred • Aims to ensure American firms and workers can compete on level playing field amid unfair conditions