EVs, economics, and a warning from Yellen in China

​U.S. Treasury Secretary Janet Yellen meets Chinese Premier Li Qiang at the Great Hall of the People in Beijing, China, April 7, 2024.
U.S. Treasury Secretary Janet Yellen meets Chinese Premier Li Qiang at the Great Hall of the People in Beijing, China, April 7, 2024.
Tatan Syuflana/Pool via REUTERS

During her weekend visit to Beijing and Guangzhou, US Treasury Secretary Janet Yellen emphasized that the US-China relationship is on a "more stable footing" – but there are still imbalances to address.

Chief among them: China's industrial overcapacity and its effects on the global economy. Yellen and Chinese Vice Premier He Lifengagreed to kickstart formal talks to address China’s growing overproduction of electric vehicles and solar panels, which the US says is distorting global markets and undercutting American jobs.

“We can only make progress if we directly and openly communicate with one another,” Yellen said. Chinese Premier Li Qiang called for a market-oriented view of production capacity, including cooperation in the green and low-carbon energy transition and a potential partnership to address environmental challenges.

Tough talk on Russia: Yellen dropped the diplomatic gloves when it came to Beijing’s economic and military partnership with Russia.

"We've been clear with China that we see Russia as gaining support from goods that Chinese firms are supplying to Russia," she declared, warning of "significant consequences" for any material support lent to Russia’s war efforts against Ukraine.

We’ll see if this changes China’s tune like it did after Russia’s invasion in 2022, when US officials say their strong warnings prompted Beijing to walk back plans to provide military equipment to Moscow.

More from GZERO Media

Syrian forces head to Latakia after fighters linked to Syria's ousted leader Bashar Assad mounted a deadly attack on government forces on Thursday, March 6, 2025.

REUTERS/Mahmoud Hassano

Nearly 50 people were killed on Thursday in the deadliest clashes Syria has seen since the overthrow of Bashar Assad. Pro-Assad militants attacked security checkpoints around the western coastal town of Jableh, a stronghold of the former regime.

The Liberian-flagged tanker Ice Energy, chartered by the US government, takes Iranian oil from Iranian-flagged Lana (formerly Pegas) as part of a civil forfeiture action off the shore of Karystos, on the Island of Evia, Greece, in May 2022.
REUTERS/Costas Baltas/File Photo

The Trump administration is reportedly considering a strategy to disrupt Iran’s oil exports by stopping and inspecting Iranian oil tankers at sea. The US would use the Proliferation Security Initiative, established in 2003 to prevent the trafficking of weapons of mass destruction, as a legal justification for the inspections.

Donald Trump issues a proclamation from the Oval Office
REUTERS/Kevin Lamarque

US presidents don’t typically talk to organizations the US government has labeled terrorist groups, but Donald Trump is not a typical US president.

President Donald Trump addresses a joint session of Congress at the US Capitol on March 4, 2025.

Win McNamee/Pool via REUTERS

You didn’t need to sit through all 99 minutes of Trump’s peroration to know that he gave himself an A++ on his first six weeks in office, writes GZERO Publisher Evan Solomon. But if Trump gets to grade himself, maybe it’s time for a more objective report card — one that looks at two criteria: Trump as a dealmaker and Trump as a manager.

The Energy Security Hub at the 2025 Munich Security Conference featured in-depth discussions on energy innovation, security, and market viability. Fatih Birol, IEA executive director, discussed growing global energy demand, especially the rapid rise in electricity outpacing overall growth. He noted electricity demand is projected to increase six times faster than total energy in 10 years, underscoring the need for electrification and grid expansion. As energy systems become decentralized and digitalized, the CEO of E.ON, Leonhard Birnbaum, said: “You’re either fully digitized – or you’re done.” Key takeaways: Energy security requires developing and securing electricity grids Technological openness is a unifying element for getting to net zero Bridge the “Valley of Death” to scale markets New global partnerships will help Europe stay competitive Public acceptance will strengthen democracy You can read the full Executive Summary from the BMW Foundation here.

a crowd of people outside of a white building

In a 5-4 split decision, the US Supreme Court on Wednesday ordered the Trump administration to disburse nearly $2 billion in foreign aid funds for work completed by contractors and grant recipients under the US Agency for International Development and the State Department. Does this tell us much about how the top court will handle future Trump-related cases?