China warns of countermeasures over US-led excess-capacity agreement
( October 12, 2026, 04:01 GMT | Official Statement) -- MLex Summary: China has warned that it will take necessary countermeasures if the US and other economies adopt measures harming Chinese interests under the pretext of addressing industrial overcapacity, the Ministry of Commerce said in a statement on Friday. The response followed an Oct. 7 announcement by the Office of the US Trade Representative that 14 economies have reached an agreement on a commitment to address global excess capacity. The ministry said China opposes using overcapacity concerns to justify trade protectionism, and urged the economies involved to uphold multilateralism, respect market principles and maintain open global supply chains.Statement follows (in Chinese)....
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