Yellen says US moving to ensure domestic EV maker success despite China’s exports

By Thomson Reuters Mar 13, 2024 | 3:28 PM

ELIZABETHTOWN, Kentucky (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said the Biden administration was taking steps to ensure the success of its domestic electric vehicle industry in the face of China’s growing exports in the sector and heavy government subsidies.

Yellen, asked at a new EV battery materials plant in Kentucky whether the U.S. needed new tariffs on Chinese EVs, told reporters President Joe Biden was committed to ensuring the success of U.S. EV makers and reducing the sector’s dependence on China.

(Reporting by David Lawder; Editing by Chris Reese)