The G20 Leaders’ communique maintained a commitment in trade to keeping markets open and maintaining level playing fields. Few specifics outside metals were provided. The OECD’s Global Forum on Steel Overcapacity is scheduled to “fulfill its commitments” by August, with a report on policy recommendations due in November. That is likely to be overshadowed by the U.S.’s unilateral actions under its article 232 steel review. Prime Minister Trudeau is “comfortable” this won’t impact Canadian industry. That implies U.S. moves will need to be highly targeted. Panjiva analysis of 2,200 country-...