US Treasury Secretary Janet Yellen testifies before a Senate Finance Committee hearing on the 2025 budget on Capitol Hill in Washington, US, Mar 21, 2024. WASHINGTON: US Treasury Secretary Janet Yellen said on Wednesday that she intends to warn China about the negative effects of Beijing's subsidies for its clean energy industries, including solar panels and electric vehicles , during a visit to the country.
Yellen is in the state of Georgia to visit a Suniva solar cell manufacturing plant that closed in 2017 due to competition from cheaper, subsidized solar panels from China, but which is now reopening because of anticipated demand fueled by tax credits for US-made clean energy technology in the 2022 Inflation Reduction Act.
Politico has reported that Yellen will travel to China in April. The Treasury has declined to confirm her travel plans.