US and Allies Sign Factory Capacity Statement
Trade ministers from the US and several allies signed a joint statement denouncing structural excess factory capacity. The group called for an end to non-market policies that distort global trade and market competition.
Trade ministers from a dozen G20 economies along with the European Union signed a United States-led statement denouncing structural excess factory capacity. The agreement follows a failed consensus effort at an OECD Trade Committee meeting. The initiative aims to counter non-market subsidies that distort global trade flows.
