Says they shared US concerns about Chinese efforts to dominate clean energy industries
said on Tuesday that the United States and Europe needed to respond to China's industrial overcapacity in a "strategic and united way" to keep manufacturers viable on both sides of the Atlantic.Yellen told reporters during a visit to Frankfurt that G7 finance ministers shared US concerns about Chinese efforts to dominate clean energy industries, but did not need "detailed coordination" on trade actions following the imposition of steep US tariffs on Chinese goods.
In remarks later at the TechQuartier technology and finance incubator in Frankfurt, Yellen said Chinese production in these sectors significantly exceeded global demand, threatening the development of clean energy industries around the world. Yellen also said that it was important for the G7 countries to show that they had a plan to channel substantial aid to Ukraine from some $300 billion in frozen Russian assets.She said that not every detail of the plan with a "completed term sheet" needed to be worked out by the time of the G7 leaders’ summit in Puglia, Italy, on June 13-15. But the plan needed enough agreement that leaders could seriously consider it.
G7 United States Jennet Yellen Clean Energy Chinese Industrial Capacity US Tariffs Chinese Electric Vehicles Chinese Production Chinese Evs Chinese EV Maker France Solar Industry Chinese Imports
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