14 countries agree to address structural access capacity in key sectors

India has joined the United States and 13 other economies in signing a joint ministerial statement calling for measures to address structural excess capacity and production and curb non-market policies that distort global markets. The joint ministerial statement, signed by the 15 participating economies, was released by the Office of the US Trade Representative (USTR) on Wednesday night, following discussions among G20 Trade Ministers in Milwaukee, Wisconsin, on September 30 and October 1, 2026.  In a statement, the countries called for measures to eliminate structural excess capacity and production, including by ending non-market policies that distort markets. They noted that more countries are acting to protect their industries, workers and economies from such distortions. They stressed that cooperation, information-sharing and coordinated action would make these efforts more effective.
"Over the course of the U.S. G20 presidency, numerous economies raised instances of structural excess capacity and production in economies that persistently exceeded global demand and were sustained by foreign government’s non-market policies and practices,” said USTR Ambassador Greer. “Left unchecked, these issues will continue to cripple domestic industries, displace local production, and hinder our ability to raise the standard of living for workers and their families. The Trump Administration will continue to engage with our trading partners to defend our domestic industries, workers, and economy from distortions resulting from these pervasive policies and practices.” 
The signatories include Argentina, Australia, Canada, the European Union, France, Germany, India, Italy, Japan, the Republic of Korea, Mexico, Poland, Türkiye, the United Kingdom and the United States. The statement said such excess capacity leads to overproduction and overconcentration of production, deters market-based investment, production and capacity building, and undermines market-based exports.