U.S. Treasury Secretary Janet Yellen has a growing set of allies working to slow the flow of cheap Chinese-made clean-tech products that they say are warping global prices. China's massively subsidized factory sector is producing more electric vehicles, solar panels, and other products than its economy can absorb.
Major economic powers from Europe to Brazil have already embraced policies to prevent disastrous consequences for their domestic industries if a flood of China's products hit their shores. Yellen warned this week that the U.S. officials won't rule out taking steps to guard the clean energy sector that the U.S. government has poured billions into nurturing. Unless you're a close follower of global trade policy, you might have missed a stunning trend of several nations weighing punitive measures against China-manufactured green technology. The U.S. imported $1.4 billion worth of electric vehicles from China at the end of last year, with possible tariffs to follow. A top official warned of a race to the bottom in EV prices. En route this week to the southern city of Guangzhou, a major hub for foreign trade, Yellen addressed global worries about China's cheap exports of goods