U.S. Trade Representative Takes Aim at China's Excess Steel Production

[Financial News] Jamieson Greer, head of the USTR, urged countries to take action against China's excess steel production.
After chairing the Global Forum on Steel Excess Capacity (GSFEC) in Milwaukee, Wisconsin, on the 30th (local time), Greer argued, "Under U.S. President Donald Trump, the U.S. steel industry is experiencing a revival based on tariffs, trade agreements and favorable tax policies."
Greer went on to emphasize, "If like-minded partner countries adopt similar policies, we can hold accountable the countries responsible for the global problem of excess steel production." In response to questions from reporters, he said, "Every country will take the measures it considers appropriate," adding, "The United States has taken strong measures, and it would probably make sense for other countries to do the same."
The reference to "countries responsible for the problem of excess steel production" appears to point to China. A two-day meeting of Group of Twenty (G20) trade ministers began in Milwaukee that day, with China's excess production and responses to its non-market policies serving as the main agenda items at this year's G20 meeting.
At its meeting, the GSFEC agreed that strong policy coordination and effective measures are needed to address the trend of excess steel production, and reached a comprehensive framework for joint action. The GSFEC has 28 members, including the European Union (EU), South Korea, Japan and Australia. China is not among them.
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