The United States may need to find “more creative approaches” to addressing China’s overcapacity, since the tradition tariff tool kit may not be enough, Treasury Undersecretary for International Affairs Jay Shambaugh said last week,.
Dealing with the economic fallout of Chinese overcapacity “may warrant our taking defensive action to protect our firms and workers – and the traditional toolkit of trade actions may not be sufficient,” he said in remarks to the Council on Foreign Relations.
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