G-20, Other Steel-Producing Nations Launch Global Forum to Address Excess Capacity
The G-20 and outside steel-producing countries composing 90 percent of global steel production on Dec. 16 in Berlin launched the Global Forum on Steel Excess Capacity, Commerce Secretary Penny Pritzker and U.S. Trade Representative Michael Froman announced (here). The officials…
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encouraged forum members to quickly exchange information and take “effective steps” to deal with root causes of excess capacity, including market-distorting support measures. The forum is expected to meet next in February. A communique from the G-20 nations after their September summit in Hangzhou, China, included a pledge to create the forum.