15 Economies Sign US-Led Statement Against Industrial Overcapacity; China, Russia, Brazil, Saudi Arabia Sit It Out

Trade ministers from 15 economies, including the United States, South Korea and Japan, signed a joint statement to build sector-specific platforms addressing manufacturing overcapacity, the U.S. Trade Representative’s office said Wednesday, according to Seoul Economic Daily. The effort is effectively directed at China, which did not sign. The statement does not name the country.

Building on the productive discussions at the G20 Trade Ministerial in Milwaukee, fourteen economies joined the U.S. in signing a Joint Ministerial Statement that expresses our collective resolve to work together in new, dedicated sectoral platforms to address structural excess capacity and production in certain manufacturing sectors.https://t.co/HxSOijvjxu

— United States Trade Representative (@USTradeRep) October 7, 2026

USTR said 14 countries joined the United States: South Korea, Japan, Argentina, Australia, Canada, the European Union, France, Germany, India, Italy, Mexico, Poland, Turkey and the United Kingdom. The statement came out of discussions at the Group of 20 trade ministers’ meeting in Milwaukee.

Milwaukee serves as the blueprint for the future of the American economy, blending a strong manufacturing base, rich agricultural surroundings, and shipping access to the Great Lakes. From walking the factory floor at Rockwell Automation to touring one of America’s most iconic brands, Harley-Davidson, the G20 Trade Ministerial underscored the importance of protecting American manufacturing and accelerating our country’s reindustrialization. Thank you to @SecDuffy and @SecRollins for joining me in hosting the G20 Trade Ministers to highlight the success of @POTUS’ policies in supporting American farmers and manufacturers!

— United States Trade Representative (@USTradeRep) October 5, 2026

The statement says structural overcapacity, wherever it arises, distorts prices and production patterns, hinders innovation and competition, and can leave other countries open to economic coercion. It singles out existing and expected overcapacity in autos and electric vehicles, batteries, chemicals, foundational semiconductors and solar panels, which it says would cripple domestic industries, destroy jobs and lower living standards.

The signatories agreed to build new sector-specific platforms to examine overcapacity in those areas and take action. They also agreed to hold technical meetings before December to set the scope of the work and share information.

U.S. Trade Representative Jamieson Greer laid out the overcapacity case at the close of the Milwaukee meeting. The excess-capacity section starts at 14:36.

The Milwaukee meeting, held Sept. 30 to Oct. 1, covered four items: the weaponization of food, structural overcapacity, most-favored-nation reform and the elimination of forced labor from supply chains. Only a joint statement opposing the weaponization of food emerged, with no outcome documents on the other three. China’s Ministry of Commerce said most members held divergent positions.

As a result, only 15 of the G20′s members appear to have joined the overcapacity statement. China, Indonesia, Saudi Arabia, Russia, Brazil and the African Union did not sign. The G20 summit is scheduled for December in Miami.