USTR Greer Urges G20 to Target China Overcapacity and Rethink WTO Principles

U.S. Trade Representative Jamieson Greer urged Group of 20 trade ministers in Milwaukee to adopt coordinated measures against Chinese industrial overcapacity and reconsider the World Trade Organization's unconditional Most-Favored-Nation principle. Greer stated that subsidized production and non-market practices distort global pricing and displace foreign producers. On the sidelines of the meeting, 28 market-oriented economies agreed on the Milwaukee Framework under the Global Forum on Steel Excess Capacity to advance tariffs and cross-border restrictions on steel. Greer also defended existing U.S. tariffs against 59 countries and the European Union alongside recent Canadian import bans.