Yellen Calls for Unified G7 Strategy to Counter China's Industrial Overcapacity

US Treasury Secretary emphasizes the need for collective action to protect global industries and support Ukraine with frozen Russian assets.

Yellen warns that China's excess production in green technologies threatens global markets.
The US has imposed steep tariffs on Chinese electric vehicles, solar products, and other strategic industries.
Yellen urges European leaders to take similar actions to prevent factory closures and protect clean energy sectors.
G7 finance ministers to discuss using frozen Russian assets to aid Ukraine at upcoming meetings in Italy.
China's support for Russia's defense industry also a concern, with additional sanctions on Chinese entities likely.