Brainard, White House economic adviser, speaking on China.

Lael Brainard, White House economic advisor, said:

• China’s industrial capacity and exports in some sectors are so large that they may compromise the viability of investment in the United States.
• a new cycle of export overcapacity induced by Chinese policies could have harmful consequences for American workers

This week, the Biden administration announced new tariffs on China. Brainard’s comments highlight the risks related to China and, while she doesn’t specifically talk about price manipulation, the risks related to its price support.

Meanwhile, the IMF spokesperson says the United States and China should work together to address underlying concerns that have inflamed bilateral trade tensions. The IMF also said that US inflation data is higher than it would like to see.