25/01/2019 (Agence Europe) – The G20 Global Forum on Steel Overcapacity, created at the end of 2016 for three years, has achieved an unprecedented level of transparency on the forms and extent of Chinese subsidies, Francisco Perez-Canado, representative of DG Trade, told MEPs on Wednesday 23 January. Nevertheless, the progress made is not up to standards set: Beijing has not fulfilled its commitment to reduce its production by 150 million tonnes (rather, it is reportedly around 100-110 million). This amount is also insufficient to balance the international steel market. "A significant additional amount must be cut from production capacity in China", he added. More transparency is also needed on new forms of subsidies and on the control of expanding production in other emerging economies. (HD)