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Treasury Sec. Yellen: US will not accept new industries being decimated by Chinese imports
US Treasury Secretary Janet Yellen warned on Monday that “the US will not accept new industries being decimated by Chinese imports as the steel sector was a decade ago.”
Additional quotes
Exchanges with Chinese officials have advanced American interests.
Particularly worried that weak chinese household consumption and business over investment will put workers at risk in the US and other countries.
Reinforced that banks facilitating transactions to channel chinese goods to russian military face sanctions.
Exchanges during this trip provide dedicated structure to raise industrial capacity concerns.
US, China agree to hold additional financial technical exercises on operational resilience, insurance climate risks.
Market reaction
At the time of writing, AUD/USD is trading flat near 0.6580, having faced rejection just shy of the 0.6600 level.
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