The Office of the United States Trade Representative (USTR) released a statement following the Global Forum on Steel Excess Capacity meeting held in Paris and headed by Argentina this week. The USTR thanked Argentina for its chairmanship but proceeded to question whether the Forum is “capable of delivering” on its objectives. The release noted the US as an active partner in the process and stated, “We do not see an equal commitment to the process from all Forum members.” Most likely targeting China, the statement included, “we have yet to see any concrete progress toward true market-based reforms in the economies that have contributed most to the crisis of excess capacity in the steel sector.”
While pledging to work with like-minded partners, the letter concluded with a statement that the US “will not sit idly by while the effects of the crisis imperil our companies and workers and threaten to impair our essential security interests.”