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U.S. Treasury Secretary Janet Yellen says she's not ruling out the possibility of instituting tariffs on green energy exports from China.
In an interview with CNBC on April 8, Yellen said that "we need to keep everything on the table," while also expressing a desire to "work with the Chinese to see if we can find a solution."
“We just want to make sure that we’re not driven out of business, and that our firms and workers have opportunities in these industries which will be important ones in our future,” she clarified.
Yellen previously expressed concerns during a March 27 speech that China's surplus of cheap green technology exports could hurt American manufacturers of the same items. China's glut of solar power, electric vehicles, and lithium-ion batteries has consistently enabled them to sell those products in international markets for low rates.
Yellen said that other countries could look into trade restrictions of their own with China as well. The European Union has already been investigating whether China has flooded their market with cheap EVs while keeping prices "artificially low." In the U.S., EVs imported from China are subject to a 27.5% tariff, as a holdover of a policy from the Trump administration.
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