Treasury Official: Overcapacity On S&ED Agenda; Onus On China To Move BIT Forward

The United States at the June 6-8 bilateral Strategic & Economic Dialogue in Beijing will press China to rein in production of steel and aluminum in an attempt to resolve global overcapacity of those commodities, Treasury Undersecretary for International Affairs Nathan Sheets said on May 24. Sheets described the global glut in base metals as both a bilateral and multilateral issue. According to Sheets, Brazil and India have expressed apprehension about the oversupply issue -- making it a multilateral matter...