U.S. and China to hold talks on 'balanced growth' amid overcapacity concerns, Yellen says
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U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to launch exchanges on "balanced" economic growth and cooperate on anti-money laundering efforts. Yellen aimed to persuade Chinese officials to rein in excess production capacity for electric vehicles (EVs) and clean energy technology. The Biden administration is facing calls to increase tariffs on Chinese EVs. Yellen did not threaten trade barriers but expressed concerns about the implications of China's industrial strategy. The forum on balanced growth will provide a structured way to discuss the issue. Yellen also warned Chinese firms of "significant consequences" if they supported Russia's invasion of Ukraine. Chinese state media criticized Yellen's stance as a pretext for protectionist policies. Yellen's visit aims to cement U.S.-China ties and discuss economic risks. Yellen will continue discussions in Beijing with Chinese officials.

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https://www.cnbc.com/2024/04/06/us-and-china-to-hold-talks-on-balanced-growth-amid-overcapacity-concerns-yellen-says.html