India Joins US and 13 others in OECD Meet, Only Third World Country in
Anti-China Alliance
Ø Fourteen Economies Join
the United States in Signing a Joint Ministerial Statement to Address Global
Excess Capacity and Production in Key Manufacturing Sectors
·
The United States and 14 partner economies
signed a Joint Ministerial Statement at the OECD Trade Committee meeting
in Washington to address structural excess capacity and overproduction
in key manufacturing sectors.
·
The initiative builds on discussions held during the G20
Trade Ministerial in Milwaukee and aims to create dedicated sectoral
platforms to examine and respond to global overcapacity issues.
·
Signatories agreed to work together to:
o
Identify sectors affected by chronic oversupply.
o
Address market distortions caused by non-market
policies and practices.
o
Develop effective measures to counter excess
production that exceeds global demand.
·
The statement calls on all countries to end
non-market practices that distort competition and contribute to persistent
overcapacity.
·
Participating economies include:
o
Argentina
o
Australia
o
Canada
o
European Union
o
France
o
Germany
o
India
o
Italy
o
Japan
o
Republic of Korea
o
Mexico
o
Poland
o
Türkiye
o
United Kingdom
o
United States
·
U.S. Trade Representative Ambassador Greer stated that
unchecked excess capacity can:
o
Harm domestic industries,
o
Displace local production,
o
Reduce economic opportunities for workers and
families.
·
The Trump Administration reaffirmed its commitment to
working with allies and trading partners to protect industries and workers from
the effects of market-distorting policies.
[ABS News Service/08.10.2026]
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
presidency, numerous economies raised instances of structural excess capacity
and production in economies that persistently exceeded global demand and were
sustained by foreign government’s non-market policies and practices,” said Ambassador
Greer. “Left unchecked, these issues will continue to cripple domestic
industries, displace local production, and hinder our ability to raise the
standard of living for workers and their families. The Trump Administration
will continue to engage with our trading partners to defend our domestic
industries, workers, and economy from distortions resulting from these
pervasive policies and practices.”