U.S. and Europe must respond jointly to China's industrial overcapacity, Yellen says

Open this photo in gallery: FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks to reporters, alongside Ukrainian Prime Minister Denys Shmyhal, at the sidelines of IMF-World Bank Spring Meetings at the World Bank in Washington, U.S., April 17, 2024. REUTERS/Kevin Lamarque/File PhotoKevin Lamarque/Reuters U.S. Treasury Secretary Janet Yellen said on Tuesday that the United States and Europe needed to respond to China's industrial policies in a "strategic and united way" to keep manufacturers viable on both sides of the Atlantic. In remarks on the importance of the U.S.-European alliance in Frankfurt, Yellen said China's excess industrial capacity threatened both American…