'Handful' of G20 countries reject US stance on excess industrial capacity
A "handful" of Group of 20 trade ministers rejected calls by the United States to curb excess industrial capacity and "non-market" policies, the US Trade Representative's office said on Friday, exposing divisions within the group of major economies.
A small number of G20 trade ministers resisted calls from the United States to address surplus industrial capacity and non-market policies, according to a statement released by the US Trade Representative's office on Friday. This revelation exposed divisions within the major economies alliance following a trade meeting in Milwaukee.
Only two countries, Mexico and Argentina, endorsed the US-led call for removing goods produced through forced labor from supply chains. The US has imposed tariffs of 10 or 12.5 percent on goods from 59 nations and the European Union, claiming these countries do not sufficiently enforce restrictions against forced labor. The USTR is also conducting an investigation into 16 trading partners suspected of having excess industrial capacity, likely resulting in additional duties.
Although China has previously objected to similar G20 statements condemning forced labor and non-market practices, Beijing denied that China's industrial policies foster excess capacity, attributing it to Western countries using the issue as justification for protectionism. The US stated that G20 trade ministers agreed to condemn the use of food trade as a means for economic or political coercion.
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