Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing shifting its⭕ꦗ industrial and economic policies.

“We intend to underscore the need for a shift in policy by China during these talks—building on the over two hours I spent on this topic with the Vice Premier (He Lifeng) last week,” she said in the last of her four-day trip to China.

She had kicked off her trip with a speech criticizing the country’s government for the “unfair” treatment of American and other foreign companies and said that concerns are growing over the global economic fallout from China's 澳洲幸运5官方开奖结果体彩网:excess manufacturing capacity.

She reiterated those points on the global eco𓂃nomy being unable to bear excess Chinese goods Mo꧅nday, and said that weak Chinese household consumption and government-supported business would pose risks for U.S. workers and businesses.

"When the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question," she said, referring to how "massive PRC government support" for the steel sector over a decade ago "decimated" industries around the world.

Yellen said that the Chinese government supported its electric vehicle (EV) automakers, for instance, "even when prices drop to very low levels due to overcapacity and their firms don't exit the market."

She said the U.S. has concerns about its supply-chain resilience and developing "undue overdependence on China as a source of supply" in areas like clean energy—which it plans to expand in coming decades.

She said companies that boost Russia's military capacity in its war with Ukraine would face "significant consequences."

"I reinforced that any banks that facilitate significant transactions that channel military or dual-use goods to Russia’s defense industrial base expose themselves to the risk of U.S. sanctions," she said.