US, EU, Japan Say They Will Ramp Up Cooperation Against Excess Industrial Capacity
The U.S., the EU and Japan agreed to bolster trilateral cooperation at the World Trade Organization and other fora to address “severe excess capacity in key sectors” by combating unfair subsidies and other third-country protectionist practices, according to a Dec.…
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12 trilateral statement after officials met during the 11th WTO Ministerial Conference in Buenos Aires. Runaway excess capacity in “key sectors” that is worsened by subsidized expansion, state-owned enterprises, local content requirements and forced technology transfers is a “serious” concern for the “proper functioning” of trade and global growth, the statement says.