Fourteen Economies Join the United States in Signing a Joint Ministerial Statement to Address Global Excess Capacity and Production in Key Manufacturing Sectors

WASHINGTON — On the margins of the Organisation for Economic Co-operation and Development (OECD) Trade Committee, the Office of the United States Trade Representative convened a meeting of senior officials of 14 economies to begin work to address structural excess capacity and production in key manufacturing sectors. Building on the productive discussions at the G20 Trade Ministerial in Milwaukee, Wisconsin, these fourteen economies joined the United States in signing a Joint Ministerial Statement that expresses our collective resolve to work together in new, dedicated sectoral platforms to examine and take effective actions that address structural excess capacity and production in several key sectors of concern.  The Joint Ministerial Statement also calls on all countries to take steps to end the use of non-market policies and practices that distort markets and perpetuate structural excess capacity and production. The signatories include the Trade Ministers of Argentina, Australia, Canada, the European Union, France, Germany, India, Italy, Japan, the Republic of Korea, Mexico, Poland, Türkiye, the United Kingdom, and the United States. “Over the course of the U.S. G20 pres...