U.S., EU, 13 Countries Target Excess Manufacturing Capacity
The joint statement targets overproduction in autos, batteries and semiconductors as the Trump administration weighs higher tariffs on more than a dozen trading partners.
- On Wednesday, trade ministers from over a dozen G20 countries, the European Union, and Poland signed a US-led statement pledging to eliminate structural excess factory capacity and the non-market policies that distort global trade.
- This joint declaration follows a G20 trade ministers meeting in Milwaukee last week that failed to reach consensus on industrial capacity issues. Senior officials finalized the agreement on the sidelines of an OECD Trade Committee meeting.
- Signatories including Argentina, Australia, Canada, Germany, India, Japan, Mexico, and Britain pledged to address excess capacity in autos, semiconductors, and other sectors, promising to "further examine and take effective actions."
- Trade Representative Jamieson Greer said the global trading system is "completely out of whack," adding that President Trump is "fixing it with likeminded partners" as countries facing trade pressure committed to collective action.
- China rejected the claims, accusing Western nations of using industrial policies to justify protectionist measures. Meanwhile, the United States continues an investigation into excess capacity targeting more than a dozen major trading partners, expected to result in higher tariffs.
24 Articles
24 Articles
Times of India
LatestlyIndia joins US, 13 economies in joint statement to address global excess capacity after G20 meeting
India, along with the United States and 13 other economies, has signed a joint statement aiming to address structural excess capacity. The participating economies emphasized the importance of eliminating non-market policies that distort economic conditions. They acknowledged the growing challenges posed by excess capacity in manufacturing sectors, which hinders market-based investments. The countries committed to cooperating and sharing informat…
Fifteen countries, including South Korea, the United States, and Japan, will jointly address structural overproduction in five sectors: automobiles and electric vehicles, batteries, chemicals, general-purpose semiconductors, and solar panels. The approach involves establishing dedicated consultative bodies for each sector to review the extent of overproduction and its impact on markets and industries, and to jointly devise response measures. Thi…
India joins US, 13 economies in joint statement to address global excess capacity after G20 meeting - The Tribune
The joint ministerial statement signed by the 15 participating economies was released by the Office of the US Trade Representative (USTR) on Wednesday, following discussions among G20 Trade Ministers in Milwaukee, Wisconsin, on September 30 and October 1, 2026.
The initiative was driven by the USTR, amid the push with China on trade issues
He signed an initiative promoted by the Trump administration and signed 14 countries, seeking to limit excess industrial production and "non-market-oriented" practices.
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