As Stanton states, the car making the right (i.e. the red car) must yield to the car already on the street (i.e. the car that just made the left turn on to the street). This is further corroborated by the fact that the YIELD sign is for the red car; not the one having just turned left.
Just know that while the car turning left MUST ensure their turn is done in safety, once they clear the intersection they are now in right of way on the 'new' street. It is the car still turning right on to the 'new' street (i.e. the red car) that must yield to the traffic having the right of way (i.e. the traffic coming off the left turn). The only thing that MIGHT change the situation is if there was a island where both vehicles were entering the road at the same time. But that is not the case here.