US Launches Talks With Japan to Address Steel, Aluminium Excess Capacity - US Trade Office

© AFP 2022 / MANDEL NGANPedestrians pass infront of US and Japan flags on the Eisenhower Executive Office Building next to the White House on April 27, 2015 in Washington, DC
Pedestrians pass infront of US and Japan flags on the Eisenhower Executive Office Building next to the White House on April 27, 2015 in Washington, DC - Sputnik International, 1920, 13.11.2021
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WASHINGTON (Sputnik) - The United States and Japan have started consultations to address issues concerning excess capacity on the global steel and aluminium 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 aluminium excess capacity, take effective measures to ensure the long-term viability of our steel and aluminium 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 aluminium tariffs and the two countries intend to take beneficial actions to restore market-oriented conditions, the release said.
The US officials emphasised concerns about China and its role in supporting trade-distorting non-market policies that threaten the American steel and aluminium industries, the release added.
The World Trade Organisation recently undertook a trade policy review of China and identified severe and persistent excess capacity in the steel and aluminium sectors as one of several problems with the country's trade regime.
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