U.S., EU and Japan issue joint statement decrying excess capacity

The U.S., the European Union and Japan teamed up this week to decry "severe excess capacity in key sectors" driven by "market-distorting subsidies" and other government interventions -- including forced technology transfers. In a joint statement, U.S. Trade Representative Robert Lighthizer, EU Trade Commissioner Cecilia Malmström and Japanese Minister of Economy, Trade and Industry Hiroshige Seko said they had "agreed to strengthen our commitment to ensure a global level playing field." After a meeting at the 11th World Trade Organization...