US voices 'severe disappointment' over G20 trade talks deadlock
WASHINGTON: The US G20 presidency is “severely disappointed” that some members rejected a statement this week for action against excess industrial capacity, a criticism commonly aimed at China, according to a statement made public Friday.
The United States is deeply disappointed that the G20 trade talks failed to produce agreements on addressing excess industrial capacity and forced labor, according to a statement released on Friday. The Group of 20, a coalition of major economies including China, India, France, Germany, and Japan, was unable to reach consensus on the issue during two days of talks in Milwaukee.
A draft statement condemning excess capacity, which aimed to prevent unfair cost reductions, garnered support from all members except a few. The US trade official, Jamieson Greer, stated that the statement called for all countries to eliminate structural excess capacity in their economies. The discrepancy in opinions was not specified, but China had previously objected to language in a finance ministers' statement advocating for the elimination of non-market policies.
When asked about the topic, China's international trade representative, Li Chenggang, merely noted that various opinions were expressed. The G20 members also failed to reach a unified stance on eliminating forced labor from supply chains, with only Mexico and Argentina aligning with the US in issuing a statement. In the past year, the US had raised concerns over forced labor, imposing tariffs on numerous economies, including G20 members.
The G20 trade ministers, however, agreed that trade in food and agricultural products should not be utilized for economic or political coercion.
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