Economy
June 6, 2016
US Treasury Secretary: Overcapacity is Distorting Global Market
Written by Sandy Williams
The US Treasury Secretary told Chinese students at Tsinghua University that excess steel capacity is distorting the world market. The comments came ahead of talks in Beijing between the US and China on trade and security.
“Excess capacity is not just a domestic issue in China,” said Treasury Secretary Jacob Lew. “The question of excess capacity is one that literally has an enormous effect on global markets for things like steel and aluminum, and we’re seeing distortions in global markets because of excess capacity,” he said.
