The Global Forum on Steel Excess Capacity has agreed to "further reduce steel production capacity wherever necessary [and] to eliminate subsidies which cause overcapacity," the European Commission (EC) said on Friday September 21.
The forum, comprising the G20 group of developed nations and the Organisation for Economic Cooperation & Development (OECD), held its most recent meeting in Paris, France, over September 17-20."The global challenge of overcapacity has strained trade relations and the global trade architecture to its breaking point," EC Commissioner for Trade Cecilia...