Some G20 Trade Ministers Sign U.S.-Led Statement Denouncing Excess Factory Capacity
A U.S.-led statement denouncing excess factory capacity was signed by a dozen G20 nations, the European Union and Poland. Washington's top trade envoy said the United States is pushing for action against excess industrial capacity that unfairly drives prices down, speaking on the sidelines of a G20 meeting.
Why it matters: It carries the U.S.-China trade war into multilateral trade diplomacy, where disputes over industrial capacity serve as a bargaining instrument.