Washington [US]: The United States and Japan have started consultations to address issues concerning excess capacity in the global steel and aluminum market, the Office of the US Trade Representative’s (USTR) office said.
“United States Trade Representative Katherine Tai and United States Secretary of Commerce Gina M. Raimondo today announced the start of consultations with Japan to address global steel and aluminum excess capacity, take effective measures to ensure the long-term viability of our steel and aluminum industries, and find solutions to strengthen our democratic alliance,” the Office of the US Trade Representative said in a press release on Friday. US and Japanese officials will also work to resolve bilateral issues related to steel and aluminum tariffs and the two countries intend to take beneficial actions that will restore market-oriented conditions, the release said.
The US officials emphasized concerns about China and its role in supporting trade-distorting non-market policies that threaten US steel and aluminum industries, the release added.
The World Trade Organization recently undertook a trade policy review of China and identified severe and persistent excess capacity in the steel and aluminum sectors as one of several problems with the country’s trade regime.
Must Read
- Union Minister of Steel reviews steel cost reduction in…
- India, China to address military stand-off, hold 13th round…
- Japan launches small Epsilon 5 rocket with nine satellites
- Japan, US launches initiative to facilitate discussions on…
- Japan PM Kishida holds first telephonic talks with US…
- Ownership of Kuril Islands key to Japan-Russia talks on…
- Biden to visit S Korea, Japan next month for talks on trade,…
- Gadkari calls for reducing use of steel, cement in road…
- Delhi allows auditoriums/assembly halls in schools to…
- Equity indices dip on profit booking, Tata Steel down 3.7 pc