✉news BusinessBanking first seen 13 h ago, last 6 h ago, peak #16
Some G20 trade ministers back US statement on factory overcapacity
Original: Some G20 trade ministers sign US-led statement denouncing excess factory capacity
A group of G20 trade ministers have signed a statement led by the United States denouncing excess industrial factory capacity. The joint declaration, announced at the G20 meeting, targets overproduction concerns that have strained global trade, particularly around state-subsidised manufacturing. Not all G20 members backed the text, underscoring divisions within the group over how to address the issue.
Why now: The US-led statement highlights ongoing trade tensions over industrial overcapacity, notably with China, making it a focal point at the G20 meeting.
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