US pushes for coordinated action on steel overcapacity at G20 gathering

At the G20 summit in Milwaukee, top U.S. trade official Jamieson Greer announced a coordinated approach to address persistent steel overcapacity, proposing the reduction of subsidies and enhanced data sharing among members. The plan, developed by the Global Forum on Steel Excess Capacity, counts the European Union, Australia, Japan and South Korea among its 28 participants, but does not involve China. Greer indicated that trade measures, including possible tariffs, could be employed against nations that overproduce, though he did not specify how they would be applied.

China’s trade envoy Li Chenggang responded that the G20 had not yet taken up the topic. The meeting also touched on issues such as forced labour, food access pressures, and ongoing trade tensions, including the U.S.-Canada dispute and broader investigations into overcapacity affecting 16 trading partners.