Treasury's Yellen says US overdependent on China for critical supply chains

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U.S. Treasury Secretary Janet Yellen said on Tuesday the United States has become overly dependent on China for critical supply chains, particularly in clean energy products and needs to broaden out sources of supply. Yellen, speaking at a Fortune CEO event in Washington, repeated her longstanding view that the United States does not want to decouple economically from China. She said that she has not been 'a strong believer' in industrial policy, but that the United States had stood by for too long while other countries built up semiconductor industries with massive subsidies.