• Reuters

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The United States, European Union and Japan have vowed to work together to fight market-distorting trade practices and policies that have fueled excess production capacity, naming several key features of China’s economic system.

In a joint statement Tuesday that did not single out China or any other country, the three economic powers said they would work within the World Trade Organization and other multilateral groups to eliminate unfair competitive conditions caused by subsidies, state-owned enterprises, “forced” technology transfer and local content requirements.

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