WASHINGTON — Treasury Secretary Janet Yellen called out China's ramped-up production in solar energy, electric vehicles and lithium-ion batteries, calling it unfair competition that 'distorts global prices' and 'hurts American firms and workers, as well as firms and workers around the world.
The tone of Yellen's speech stands in contrast to Chinese leader Xi Jinping, who met with American business leaders in Beijing Wednesday and called for closer trade ties with the U.S. amid a steady improvement in relations that had sunk to the lowest level in years. Xi emphasized Wednesday the mutually beneficial economic ties between the world’s two largest economies, despite heavy U.S.
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