Steel News

U.S. Trade Representative Criticizes China's Excess Steel Capacity

4/6/2021 - The Office of U.S. Trade Representative Katherine Tai is taking China to task, calling it the world’s No. 1 offender in enabling excess steel capacity. 

The office issued the criticism as a part of the 2021 National Trade Estimate (NTE) Report, an annual comprehensive review of barriers to U.S. exports of goods and services. 

“China’s state-led approach to the economy and trade makes it the world’s leading offender in creating non-economic capacity, as evidenced by the severe and persistent excess capacity situations in several industries, including steel, aluminum, and solar, among others,” it said. 

“China also is well on its way to creating severe excess capacity in other industries through its pursuit of industrial plans such as Made in China 2025, pursuant to which the Chinese government is doling out hundreds of billions of dollars to support Chinese companies and requiring them to achieve preset targets for domestic market share — at the expense of imports — and global market share in several advanced manufacturing industries,” it added. 

You can find the full report here. Politico also has more on the report here.