G7 Hints At WTO Action On Steel Overcapacity, Urges TPP Ratification

摘要

A joint communique from G7 leaders issued at the conclusion of a summit in Japan highlights global excess capacity in industrial sectors, particularly steel, as a problem that needs an urgent solution and hints that failure to reach an agreement on coordinated actions among producing nations could lead to litigation in the World Trade Organization. The communique, published after the May 26-27 summit in Japan, does not expressly refer to WTO litigation on overcapacity but to "actions to enforce our rights."