Yellen wants 'constructive' talks on Chinese excess capacity, subsidies

U.S. Treasury Secretary Janet Yellen said on Wednesday that she is not ready to discuss potential moves to retaliate over China's excess manufacturing capacity and subsidies that are flooding global markets and wants "constructive" talks on the issue with Chinese officials during her next visit to Beijing.

Yellen told reporters at a solar module factory near Atlanta that it is important for Chinese officials to understand U.S. concerns about its industrial policies, adding: "We see, of course, the same concerns in Europe, for example, but I don't want to get into retaliation. We want to see what we can do that's constructive."