"Yellen Urges Tough Conversations with China on Excess Industrial Capacity"

Treasury Secretary Janet Yellen visited China and emphasized the need for "tough conversations" about China's overproduction in industries such as electric vehicles and clean energy components, which have impacted producers and jobs in the U.S. and other countries. Yellen met with Chinese Premier Li Qiang, who expressed a desire for partnership and constructive progress. The U.S. raised concerns about China's excess industrial capacity and government support for these industries, with both sides showing willingness to explore the issue further.