Office of the U.S. trade representative at the close of the Ministerial meeting of the Global forum on excess capacity of steel, held in Tokyo, Japan, said the United States will continue to work with "like-minded partners" in the quest for durable solutions to the crisis of global overcapacity, market distortions and global imbalances that they cause.
United States actively lobbied for a reduction and smelting capacities of China, which stated that it had fulfilled all the conditions of the forum and saw no merit in his further work.
the Decision of the majority of the members of the Global forum to continue the work of the Forum after 2019 indicates that a serious excess capacity has become a permanent crisis.
"We will continue to take the necessary action to eliminate the harmful effects of this crisis on American companies and workers, as well as our basic security interests", - stated in the office of the U.S. trade representative.
Earlier it was reported that at the last meeting in Tokyo representatives of the Global forum on excess capacity in the steel industry failed to reach any major agreements with the participating countries, resulting in China urged to disband this organization.
Ministry of Commerce of China said in a statement on Saturday evening that China had made "the greatest and most distinguished" contribution to global efforts to reduce overcapacity in steel production because it was the only country which has set itself the binding target.
"in 2016 China has reduced the production capacity of steel production of more than 150 million tons, or 114 percent of the global reduction of steel production capacity... while China had to employ at the new location more than 280 000 Steelworkers, which is more than the total number of workers employed in the steel industry in the US, EU and Japan combined," - said the Ministry.
Fiasco forum demonstrated growing problems in the dialogue between China and its major trading partners coordinate their internal industrial policy.
