US-China Trade Tensions Simmer; Yellen Raises Concerns, New Tariffs Loom

Source: U.S. Treasury, MOFCOM, Reuters

Key Developments:

Yellen’s Post-Visit Warning:

U.S. Treasury Secretary Janet Yellen stated that talks with Chinese officials failed to resolve key disputes. She criticized China’s "unfair treatment" of U.S. firms and warned of further trade restrictions if subsidies for green tech (EVs, batteries, solar) continue.

New U.S. Tariff Reviews:

The Biden administration is reviewing Section 301 tariffs on $300B+ of Chinese goods, with hikes likely for EVs (25% → 100%), batteries, and critical minerals. A decision is expected early 2024.