US will push China to change policy that threatens American jobs, Treasury Secretary Yellen says

Treasury Secretary Janet Yellen says the Biden administration will push China to change an industrial policy that poses a threat to U.S. jobs. Yellen said this on Monday after four days of talks with Chinese officials. She also said during her visit to Beijing that they had “difficult conversations” about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine. But the focus of her trip was industrial policy, and what the U.S. and Europe describe as manufacturing overcapacity in China. Wealthy nations fear a wave of low-priced Chinese exports that will overwhelm factories at home.