Business · Singapore Bureau
US pushes G20 to reshape global trade rules, signals China concerns
Washington is pressing major economies to overhaul the post-World War Two tariff framework and address industrial overcapacity at upcoming G20 talks. The push comes as the US seeks international backing for a broader reassessment of global trade policy.
LSN Singapore ·
The United States is calling on Group of 20 nations to fundamentally reconsider the international trade system that has governed commerce for decades, according to remarks made by US Trade Representative Jamieson Greer on Wednesday.
Greer outlined three key priorities for G20 discussions, urging member states to avoid coercive measures affecting food trade, tackle what Washington views as excess industrial capacity in the global economy, and revisit the tariff structures established in the post-1945 order.
The statement reflects broader US efforts to reshape multilateral trade arrangements and represents a shift from the consensus-based approach that has underpinned the World Trade Organization framework. The timing of the remarks underscores Washington's intention to leverage its position within the G20 to advance its economic agenda.
Industrial overcapacity, particularly in sectors like steel and semiconductors, has emerged as a central concern for the US administration. Officials have linked excess production capacity in certain countries to what they characterize as unfair competitive practices and market distortions.
The G20, which includes major developed and developing economies, is expected to address trade and economic policy at upcoming meetings. The US push comes amid ongoing tensions over tariffs and trade relations with several major trading partners.