Yellen says China’s rapid buildout of its green energy industry ‘distorts global prices’

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Treasury Secretary Janet Yellen called out China’s excess production in green energy, calling it unfair competition that “distorts global prices” and hurts companies and workers around the world. Yellen is planning her second trip to China as Treasury secretary. In remarks delivered in Georgia on Wednesday, she says she plans to press her Chinese counterparts “to take necessary steps to address this issue.” She spoke at Suniva, a solar cell manufacturing facility in Norcross, Georgia., that closed in 2017. Treasury says it closed in large part due to cheap imports flooding the market. It is reopening, in part, because of incentives provided by the Democrats’ Inflation Reduction Act