U.S. Warns China About Its Exports and Support for Russia

Treasury Secretary confronted her Chinese counterpart about China’s surging exports of inexpensive electric vehicles and other green energy goods, saying that they were a threat to American jobs and urging Beijing to scale back its industrial strategy. She also warned her counterpart that Chinese companies could face ‘significant consequences’ if they provided material support for Russia’s war on Ukraine. The meetings were an effort by the world’s two largest economies to address trade and geopolitical disputes as the countries try to steady a relationship that hit a low last year. The U.S. and China agreed to hold additional talks in the future about curbing international money laundering and fostering ‘balanced growth.’ The surge of heavily subsidized green technology exports from China has been a focus of Secretary’s second trip as Treasury secretary to the country. Cheap Chinese electric vehicles, batteries, and solar panels are of particular concern to the Biden administration, which has been investing in those sectors at home. The Treasury Secretary expressed how concerned the U.S. is about the implications of China’s industrial strategy for American firms.