US Trade Representative Jamieson Greer says a new "Milwaukee Framework" for coordinated action against global steel overcapacity will be released at this week's G20 trade ministers meeting. Greer expects the plan to push countries toward stronger trade barriers on steel from high-capacity producers such as China.
Jamieson Greer said on Wednesday that a new framework for countries to take coordinated action against excess steel production capacity will be released at a Group of 20 trade ministers meeting this week. He spoke to reporters in Milwaukee after a meeting of the Global Forum on Steel Excess Capacity.
Greer said the so-called "Milwaukee Framework" will likely encourage countries to take stronger action to raise trade barriers on steel imports from countries with heavy excess capacity, such as China.
Asked whether most G20 countries had agreed to raise tariffs on Chinese steel, Greer said, according to Reuters: "Well, every country will do what they think is appropriate."
Source: Investing.com
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