Several G20 Countries Reject U.S.-Led Efforts Against Excess Industrial Capacity
A 'handful' of Group of 20 trade ministers rejected U.S. calls to address excess industrial capacity and non-market policies, according to the U.S. Trade Representative's office. The statement came after a G20 meeting in Milwaukee where only Mexico and Argentina supported a US-led initiative targeting forced labor supply chains. This rejection highlights growing divisions within major economies over how to handle trade imbalances. The Trump administration has imposed tariffs on goods from 59 countries, including the EU, citing inadequate enforcement of forced labor bans. The USTR is also investigating 16 trading partners for signs of excess industrial capacity, which could lead to new duties soon. China, a key target in these discussions, previously objected to similar G20 statements and denies claims that its policies create excessive exports. Despite the disagreement on industrial policy, G20 trade ministers reached consensus condemning the weaponization of food trade as an economic or political tool. The U.S.-led effort also pushed for reforms to the
Topics: forced labor policies industrial capacity tariffs U.S.-China trade tensions