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Yellen says she won’t rule out possible tariffs on China’s green exports

U.S. Treasury Secretary Janet Yellen on March 21, 2024, in Washington, DC.

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US Treasury Secretary Janet Yellen said on Monday she would not rule out any measures, including possible tariffs, on Chinese green energy exports.

“I’m not ruling anything out at this point. We have to keep everything on the table. We want to work with the Chinese to see if we can find a solution,” she said in an interview with CNBC’s Sara Eisen, when questioning the possibility of Washington imposing tariffs if China does not adjust its approach to industrial incentives.

“I’m not thinking so much about export restrictions as much as some changes in their macroeconomic policy and a reduction in the amount of subsidies given to businesses, especially by local governments,” Yellen said.

She nevertheless stressed the need to create a level playing field in the field of green technologies.

“We just want to make sure that we are not pushed into bankruptcy and that our businesses and our workers have opportunities in these sectors that will be important to our future,” she added.

Yellen is currently in Beijing and is due to leave China on Tuesday. She arrived in Guangzhou on Thursday last week to connect with Chinese officials as strained economic relations between the two countries continue.

This breaking news story is currently being updated.

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