USTR Greer on Trade With Canada and EU, Diesel Prices

U.S. Trade Representative Jamieson Greer addresses global manufacturing challenges and trade imbalances during the G20 ministers' meeting in Milwaukee. Structural excess capacity, particularly from China and other Asian nations, remains a primary concern as it creates massive trade deficits and hollows out domestic manufacturing for victims of dumping. While the U.S. has successfully reduced its trade deficit with the European Union through recent barrier agreements, Greer emphasizes that European partners must take more aggressive action against Chinese imports to protect global investment incentives. Regarding energy, the U.S. is urging France and Germany to release diesel reserves to combat a temporary price spike. Furthermore, while a potential trade deal with Canada remains possible, significant gaps persist as the U.S. prioritizes reshoring initiatives that have already added 60,000 net manufacturing jobs this year.