U.S., EU, Japan eye new ‘tools’ to tackle non-market economic practices

The U.S., Japan and the European Union have agreed to identify gaps in enforcement mechanisms and to pursue new tools for tackling challenges posed by non-market economies, they announced after a working group meeting on Tuesday. U.S. Trade Representative Katherine Tai, Japanese Minister of Economy, Trade and Industry Hagiuda Koichi and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis met virtually to restart work to “tackle issues distorting global trade” including overcapacity, industrial subsidies and the role of...