G20 trade talks fail on industrial overcapacity

G20 trade ministers failed to agree on action against industrial overcapacity and forced labor after two days of talks in Milwaukee, the US presidency of the group said Friday.

Jamieson Greer, the top US trade official and chair of the meeting, said a draft statement on excess capacity was supported by all but a handful of members. He said the US G20 presidency was “severely disappointed” by the refusal to agree to it.

The statement did not identify which countries objected. The issue is often raised in relation to China. In September, China objected to wording in a finance ministers’ statement calling for members to “eliminate non-market policies”.

G20 members also did not reach a common position on eliminating forced labor from supply chains. Mexico and Argentina joined the United States in issuing a statement on that issue.

Greer said ministers did agree that trade in food and agricultural products should not be used as a tool of economic or political coercion.