15 economies sign US‑led statement to curb industrial overcapacity in autos, EVs and other sectors

Trade ministers from the United States and fourteen other economies signed a joint ministerial statement in Milwaukee on Oct. 7, 2026, pledging to build sector‑specific platforms to tackle industrial overcapacity in autos, electric vehicles, batteries, chemicals, foundational semiconductors and solar panels.

The declaration warns that structural excess capacity can distort prices, hinder innovation, and threaten domestic jobs, prompting coordinated action to safeguard key manufacturing sectors.

Joining the United States were South Korea, Japan, Argentina, Australia, Canada, the European Union, France, Germany, India, Italy, Mexico, Poland, Turkey and the United Kingdom. The signatories agreed to share non‑confidential information and develop joint strategies to curb excess production.

Six major economies—China, Russia, Brazil, Saudi Arabia, Indonesia and the African Union—did not sign the statement, a fact noted by officials who said the coalition’s focus remains on addressing market distortions wherever they arise.

The statement calls for technical meetings before December to define the scope of each sectoral platform, exchange data on surplus capacity and explore complementary actions that can protect domestic industries.

The initiative grew out of the G20 trade ministers’ meeting held Sept. 30‑Oct. 1 in Milwaukee, where USTR Jamieson Greer highlighted the need for collective measures against non‑market practices that inflate production beyond global demand.

"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," Greer said.

Technical officials are slated to convene later this year, with the next G20 summit scheduled for December in Miami, where the coalition hopes to report progress and consider expanding the platform to additional sectors.