G20 trade ministers split over US push to curb excess industrial capacity

At the G20 trade meeting in Milwaukee, only Mexico and Argentina backed a US-led statement on excess industrial capacity and non-market policies, while a 'handful' of ministers rejected it, exposing divisions. The US, as G20 chair, highlighted the split, signaling friction over trade and industrial policy ahead of further negotiations. This matters as it underscores the challenge of building consensus on trade rules amid US-China tensions.