Yellen Says She’s Ordering the President to Stop Importing Chinese Products

Andrew Anglin April 8, 2024


This Jew bitch is so full of shit.

In the early 2000s, the US government bullied companies into moving to China. They rammed through all of these “free trade” agreements that made it effectively impossible for American companies to compete unless they moved their production to China.

China didn’t have anything to do with this policy. They just said “well, okay then – we’ll make this stuff for you!”

Telling China to stop selling so many products is insane. If the US doesn’t want to import Chinese products, they can ban them, which they’ve already done. What Yellen is saying is she wants China to stop exporting to third world countries. I don’t even understand.

Also, no one can explain why the Treasury Secretary is doing this.

Reuters:

U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity.

Yellen told a press conference that U.S. President Joe Biden would not allow a repeat of the “China shock” of the early 2000s, when a flood of Chinese imports destroyed about 2 million American manufacturing jobs.

She did not, however, threaten new tariffs or other trade actions should Beijing continue its massive state support for electric vehicles (EVs), batteries, solar panels and other green energy goods.

Yellen used her second trip to China in nine months to complain that Beijing’s overinvestment has built factory capacity far exceeding domestic demand, while fast-growing exports of these products threaten companies in the U.S. and other countries.

She said a newly created exchange forum to discuss the excess capacity issue would need time to reach solutions.
Yellen drew parallels to the pain felt in the U.S. steel sector in the past.

“We’ve seen this story before,” she told reporters. “Over a decade ago, massive PRC (People’s Republic of China) government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States.”

Yellen added: “I’ve made it clear that President Biden and I will not accept that reality again.”

Is that the job of the Treasury Secretary? To tell the president what US trade policy will be?

I thought trade policy was determined by the Congress?

What the hell is even going on here?

When the global market is flooded with artificially cheap Chinese products, she said, “the viability of American and other foreign firms is put into question.”

Yellen said her exchanges with Chinese officials had advanced American interests and that U.S. concerns over excess industrial capacity were shared by Washington’s European allies, Japan, Mexico, the Philippines and other emerging markets.

China’s vice finance minister, Liao Min, told Chinese media that Beijing “has fully responded” to U.S. questions on overcapacity and expressed “grave concern” over restrictions Washington imposes on trade and investment.

Liao said China’s “current competitive advantages are rooted in China’s large-scale market, complete industrial system and abundant human resources,” decrying the “escalation of green protectionist measures by some developed economies.”

What China should do in response to this is start dumping US treasuries. That has to happen at some point. The US government is borrowing $1 trillion every 90 days.

China has the ability to completely crash the US economy. It would be painful for them as well, but it would basically wipe out the United States as a global superpower.

Yellen should be begging them not to do that, instead of making threats. But she is making threats. I guess that’s what she’s doing. I don’t understand what else it can be when she is demanding they stop making so much money. They’re not going to do that just because she told them to.

See: China Mocks Fat Retard Elon Musk for Needing Subsidies to Make Overpriced Crap EVs

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