Global Call for Action Against Excess Industrial Production

In a significant move, India and 13 other countries have united to call for global action against excessive industrial production that disrupts market balance and harms domestic industries. This joint statement, issued during the OECD Trade Committee meetings in Washington, emphasizes the need for nations to eliminate structural excess capacity and non-market practices. The coalition, which includes major economies like the US, Canada, and the EU, aims to address these pressing issues through dedicated sectoral platforms. However, notable G20 members such as China and Brazil did not sign the statement, highlighting ongoing challenges in achieving consensus on trade-related matters. The USTR warns that unchecked industrial overproduction could severely impact local economies and living standards.

By Narendra Chaudhary Oct 8, 2026, 11:49 IST

International Collaboration to Address Market Distortions

Representational file image of cargo operations underway at Vizhinjam Port in Kerala. (Photo:@airnewsalerts/X)

Washington, Oct 8: A coalition of India and 13 other nations has urged for a unified global response to tackle excessive industrial production, which disrupts market equilibrium, adversely affects local industries, and leads to supply-demand imbalances.

This collective statement was released following discussions held during the Organisation for Economic Co-operation and Development (OECD) Trade Committee meetings in Washington.

The joint statement emphasized the necessity for all nations to eliminate structural excess capacity and production within their economies. It called for the cessation of non-market policies and practices that distort market dynamics and exacerbate these issues.

Building on prior discussions from the G20 Trade Ministerial in Milwaukee, these economies have aligned with the US to endorse a Joint Ministerial Statement. This agreement aims to establish dedicated sectoral platforms to investigate and address structural excess capacity and production in critical sectors, as noted by the US Trade Representative (USTR).

The signatories of this statement include trade ministers from Argentina, Australia, Canada, the European Union, France, Germany, India, Italy, Japan, South Korea, Mexico, Poland, Turkiye, the United Kingdom, and the United States.

Notably, G20 members such as China, Brazil, Indonesia, Russia, Saudi Arabia, and South Africa did not participate in this joint statement.

During the G20 trade ministerial in Milwaukee, consensus was not achieved on matters concerning forced labor and excess industrial capacity.

"Throughout the US G20 presidency, various economies highlighted instances of structural excess capacity and production that consistently surpassed global demand, supported by non-market policies from foreign governments," stated USTR Jamieson Greer.

"If these issues remain unaddressed, they will continue to undermine domestic industries, displace local production, and impede our efforts to enhance living standards for workers and their families," he added.

Greer affirmed that the Trump Administration will persist in collaborating with US trading partners to protect domestic industries, workers, and the economy from the distortions caused by such policies.