US trade chief to consider trade deal tariff caps in excess capacity probe
Greer said trade deals and tariff caps will factor into possible new duties as the administration reviews excess capacity in China and other partners.
- On Tuesday, U.S. Trade Representative Jamieson Greer stated the Trump administration will consider negotiated tariff caps while weighing new duties in its investigation into excess industrial capacity.
- The Trump administration has utilized its G20 presidency this year to address China's excess production capacity and over-reliance on exports for growth.
- Trade agreements with the European Union, Japan, and South Korea cap U.S. tariffs at 15%, while largely eliminating duties on industrial goods to mitigate excess capacity impacts.
- European Union trade chief Maros Sefcovic welcomed the administration's focus on excess capacity, noting the EU seeks deeper cooperation on critical minerals to avoid "weaponization" of supply chains.
- Greer stated he would not prejudge the outcome of the pending Section 301 investigation, which focuses on excess capacity among key trading partners including China.
13 Articles
13 Articles
(Seoul = Yonhap News) Reporter Kang Hoon-sang = U.S. Trade Representative Jamison Greer said on the 29th (local time) that the U.S. government is imposing tariffs on overproduction...
The Economic Times
Times of IndiaUS to factor trade-deal tariff caps into new duties on excess capacity
US Trade Representative Jamieson Greer emphasized the administration's focus on tariff caps during ongoing investigations. Excess industrial capacity, especially in China, remains a key concern for the US government. Greer indicated that trade agreements play a significant role in managing these issues effectively. The Group of 20 is also addressing China's production policies and seeking reforms through collaboration.
The United States is seeking to take action against overcapacity that is depressing prices, Washington's trade representative said on Wednesday at the G20 summit. Some countries - except China - have backed the plan, which includes cutting subsidies.
Trump government will take into account tariff limits negotiated in trade agreements with other countries when assessing the possibility of new taxes in the framework of research on excess industrial capacity
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