Yellen says US will not accept its industries being decimated by cheap Chinese imports in the same way that the US steel sector was crushed a decade ago. “We’ve seen this story before. I’ve made it clear that President Biden and I will not accept that reality again.”

6 comments

1. Thank you so much.

2. Didn’t trump say something along this line last few elections?

3. US industries will accept anything that boosts profits, think of the shareholders ! What’s that ? Employees ? Fuck em

4. Some of it also goes to the consumer. Consumers are out buying Chinese things from Temu instead of local places. It’s understandable why since everything is expensive

5. Maybe it’s time to kick China out of WTO seeing that they are just abusing the system to promote dumping

6. I do t understand why this whole situation is being painted as ‘China’s’ fault. It was quite literally U.S corporations that wanted to maximize profits, and minimize manufacturing costs by outsourcing labor to countries like China. Even to go as far as to give away design specifications. 20-30 years later when china developed a manufacturing infrastructure that is at a level in which it threatens U.S production now all of a sudden it’s China’s doing? Like they did exactly what we (U.S corps) paid them to do….. this is on them. The only silver lining is the talks of bringing back manufacturing to the states, but it’s not out of ‘betterment of American’ rather, it’s so Chinese corps doesn’t get any more of an ‘Upper-hand’ on American corps. In addition to that, I have doubts that the main goal is to bring manufacturing back to the U.S I willing to bet it’s just to take it out of china. Meaning I’m doubting the U.S citizens are going to see much of a benifit, rather the manufacturing is probably going to go to places like Mexico (for example)