‘Handful’ of G20 countries reject US stance on excess industrial capacity
SPY•A handful of G20 trade ministers rejected US calls to curb excess industrial capacity and non-market policies, the US Trade Representative’s office said. Mexico and Argentina were the only countries to sign a US-led statement on removing goods made with forced labor from supply chains.
1. Ministers split on capacity
The US G20 chair’s statement said a handful of members firmly rejected a proposed path toward cooperative action on excess capacity, severely disappointing the US presidency. It did not identify the countries that objected.
2. Forced labor and food trade
Only Mexico and Argentina signed the US-led statement on eliminating goods produced with forced labor from supply chains. G20 trade ministers reached consensus on opposing the use of food and agricultural trade as a tool of economic or political coercion.
