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U.S. Treasury Secretary Janet Yellen warned on Monday that the United States would not accept new industries being decimated by subsidized Chinese imports in the same way that the U.S. steel sector was crushed a decade ago. After wrapping up four days of talks with Chinese officials, Yellen told a news conference the exchanges had advanced American interests. She said she had raised concerns about China's weak domestic demand and overinvestment in industries such as electric vehicles, batteries and solar products, fueled by "large-scale government support."

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