The United States said it was “severely disappointed” after several Group of 20 members declined to back joint action against excess industrial capacity and forced labor in global supply chains, which are often associated with China.
A proposed statement on excess industrial capacity was supported by all but “a handful” of trade ministers who met in Milwaukee this week, U.S. Trade Representative Jamieson Greer said on Oct. 2.
The proposal called on countries to address structural overcapacity by ending non-market policies and practices that distort global trade. It also proposed creating new sector-specific platforms for coordinated action.
“A few” members “firmly rejected” that approach, according to Greer’s statement….