{
  "id": 11607980,
  "title": "G20 countries split over US push to curb excess industrial capacity",
  "url": "https://urgent.news/2026/10/03/g20-countries-split-over-us-push-to-curb-excess-industrial-capacity",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-03T04:59:03.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/g20-countries-split-over-us-push-to-curb-excess-industrial-capacity-4930759"
  },
  "original_language": "en",
  "account": "A group of G20 trade ministers rejected a U.S.-led initiative to tackle surplus industrial capacity and unregulated economic practices, revealing tensions among major economies, according to Reuters. While the U.S. Trade Representative's office claimed a draft ministerial statement on surplus capacity received support from most G20 participants, several nations staunchly opposed establishing a framework for collaborative action. The White House, which assumes the G20 presidency this year, has not disclosed the countries that disagreed with the proposal. China had previously disagreed with a similar statement targeting forced labor and non-market economic practices during a G20 finance gathering last month. Beijing has denied U.S. allegations that its industrial subsidies and policies have resulted in surplus capacity, contending that Western nations are employing the issue to justify protectionist measures. The disagreement emerges as the U.S. Trade Representative's office (USTR) probes 16 trading partners suspected of having surplus industrial capacity, a process likely to lead to extra tariffs in upcoming months. Meanwhile, only Mexico and Argentina supported a U.S.-approved statement advocating for enhanced cooperation to eliminate goods produced under forced labor conditions from global supply chains. The Trump administration has imposed tariffs of 10% or 12.5% on goods from 59 countries and the European Union, claiming insufficient enforcement of forced-labor restrictions. On a positive note, G20 trade ministers achieved consensus on denouncing the use of food trade for economic or political coercion, agreeing that measures aimed at restricting or redirecting food and agricultural inputs to gain unrelated geopolitical advantages pose humanitarian and economic hazards. The ministers also deliberated on possible adjustments to the World Trade Organization's most-favored-nation tariff system. U.S. Trade Representative Jamie Bock argued that the present system hampers countries' capacity to react differently to economies employing non-market practices. Some G20 members indicated openness to contemplating expanded exceptions or novel legal interpretations of current regulations.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}