Steel forum calls for more tariffs, avoiding subsidies to loss-making plants

​Members of ​an OECD ‌forum on steel ​excess capacity agreed on Wednesday ‌to take stronger steps to combat imports from countries such as ‌China and to refrain from ‌subsidies that encourage the construction of loss-making steel plants.

The Global Forum on ⁠Steel ​Excess ⁠Capacity said in a statement that its ⁠membership of 28 Western market-oriented economies, ​agreed at a ministerial meeting ⁠on a framework that calls for ⁠imposing, ​where appropriate, additional tariffs on steel from countries that ⁠are major sources of excess ⁠steel capacity. ⁠China, India, Vietnam and Indonesia are not members ‌of the ‌forum.