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U.S. Slams Global Steel Forum for Lack of Results on Curbing Rising Output in China

(Doug Palmer – Politico)

The Trump administration on Thursday issued a blistering statement questioning the value of a global forum created by G20 leaders in 2016 to work on reducing excess production capacity in steel.

“The United States has been an active and committed partner in this process, working to seek prompt implementation of the forum’s past policy recommendations, which are aimed at reducing excess capacity as well as restoring balance and market function in the global steel sector,” the Office of the US Trade Representative said in a statement after ministerial level talks wrapped up in Paris. “Unfortunately, what we have seen to date leaves us questioning whether the forum is capable of delivering on these objectives.”

The US statement did not mention China by name but seemed to refer to the world’s second largest economy, which the Trump administration accuses of creating huge excess capacity in steel through massive government subsidy programmes. Click here to read more.