U.S. Leads Call to Address Global Excess Steel Capacity
U.S. officials urged more than 30 governments to address the problem of global excess steel capacity at a key international meeting earlier this month. Government policies that create or maintain excess steelmaking capacity can hurt American steel producers and workers. The United States was joined by Canada and Mexico in calling attention to policies that distort trade, harm the environment, and threaten the most efficient steel producers in every market.
At the 76th meeting of the Organization for Economic Cooperation and Development (OECD) Steel Committee, USTR and Department of Commerce officials raised concerns about government interventions that unfairly distort the global marketplace for steel. These concerns were echoed by U.S. industry representatives. OECD Steel Committee Chairman, Risaburo Nezu, underscored the risks to industry if global steel capacity and production continue to outpace demand.
Through multilateral fora like the OECD Steel Committee, as well as through bilateral efforts, U.S. trade officials are advancing policies that level the playing field for American workers and firms, raise labor and environmental standards, and maintain the integrity of critical global markets. For more information on global steel production and policies, please visit the OECD website.