USTR to hold public hearings this week on foreign practices tied to excess capacity
The U.S. Trade Representative (USTR) will hold public hearings this week on trade investigations into structural excess capacity in manufacturing sectors across South Korea, China, Japan, and 13 other countries. The hearings, conducted under Section 301 of the 1974 Trade Act, could lead to tariffs or other trade measures. South Korea plans to present its position, emphasizing market-driven industrial policies and voluntary restructuring in affected industries.
- ▪The USTR is conducting investigations under Section 301 of the 1974 Trade Act into structural excess capacity in manufacturing sectors.
- ▪Public hearings will take place from Tuesday to Friday at the U.S. International Trade Commission in Washington.
- ▪South Korea will argue that its economy operates on market principles and is proactively restructuring industries like petrochemicals and steel.
- ▪The investigations follow the Supreme Court's invalidation of previous reciprocal tariffs in February.
- ▪Separate USTR hearings last month addressed forced labor import bans across 60 economies, including the same countries under review.
Opening excerpt (first ~120 words) tap to expand
United States Trade Representative Jamieson Greer speaks during a House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on The Office of the United States Trade Representative's budget in the Rayburn House Office Building near the U.S. Capitol in Washington, DC on Apr. 16. UPI-YonhapWASHINGTON — The Office of the U.S. Trade Representative (USTR) said Monday that it will hold public hearings this week concerning its trade investigations into South Korea, China, Japan and 13 other countries related to "structural" excess capacity and production in manufacturing sectors.The hearings are set to take place at the U.S.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Korea Times News.
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