Steel woes a global issue, minister says

Trade protectionism will not solve the global steel industry's overcapacity issue, and excessive use of trade remedy measures to settle disputes is unwise, Commerce Minister Gao Hucheng said on Friday.

The steel industry's current operating difficulties and overcapacity are the result of weak economic growth and the shortage of demand, and they therefore require the joint efforts of all countries, Gao said.

His comments came after trade remedy measures recently taken by the US.