Ambassador Greer's Opening Remarks at the G20 Trade Ministerial

As Prepared for Delivery on September 30, 2026 Milwaukee, Wisconsin Good afternoon ministers and delegates. I would like to officially welcome you to Milwaukee for the G20 Trade Ministerial meeting. Milwaukee is the “Machine Shop of the World,” a center for innovation and services, and is located within a key agricultural state. The city is emblematic of the type of economy the United States wants to encourage—one oriented towards production, and all that comes with it. It is special that we are able to convene in the Pfister Hotel. First opened in 1893, the Pfister was at the cutting edge of engineering and design, with a fireproof construction, self-produced electricity, and even individual thermostats in every room. Over its 130-year life, the Pfister has borne witness to its share of historical events and important gatherings. I’d like to tell you about one of them. In November 1959, John F. Kennedy—then a young senator embarking on his presidential campaign—gave a major policy address in this very ballroom. Kennedy decried the loss of American competitiveness: declining production of steel, machinery, tools, energy, and agricultural products. He reminded his listeners about the importance of technological innovation and industrial investment. He worried about the erosion of productive capacity in critical sectors and the consequences of expanding non-market policies and practices. That was 67 years ago. But unfortunately, those elements of his speech are very relevant today. The speech was entitled “The Years the Locusts Have Eaten.” That, itself, is a reference to a quote by Winston Churchill about the dithering and failure to take strong policy actions in the lead up to World War II. This same framing applies to the global trading system today. To quote Kennedy’s remarks: slavish fidelity to multilateral rules has resulted in “years of drift, of falling behind, of postponing decision.” For more than a decade, the global economy has been beset by macroeconomic imbalances, structural excess capacity and production, forced labor, and economic coercion. And yet, the response by the world’s economies has been mostly talk. Consider that it was back in 2016 that the leaders of all our countries committed at the G20 to address excess industrial capacity. It has been ten years—excess industrial capacity is an even greater distortion in the global economy now than it was then. This is why, starting last year, the United States took action, using a combination of tariffs and bilateral deals to reduce our trade deficit, make resilient our supply chains, and bring fairness, reciprocity, and balance to the global economy. This week, we gather to discuss these pressing issues for the trading system. Typically, and too often, when difficult questions and topics arise in the G20, many around the room suggest that such discussions belong elsewhere. That they should take place in Geneva at the WTO. But Geneva is just another city on a lake. And so is Milwaukee. So, let’s talk candidly and constructively here. To this end, there are four workstreams the U.S. Presidency has focused on over the course of the year: the weaponization of food, structural excess capacity and production, the Most-Favored-Nation principle, and forced labor in global supply chains. I will discuss each in turn. First, the weaponization of food. Coercive trade actions involving food, agricultural products, and agricultural inputs pose serious consequences for economies and the people in them. Second, structural excess capacity and production. When non-market policies and practices allow production to expand far beyond domestic demand, the consequences spill across borders. Excess production flows into global markets, putting pressure on producers and workers elsewhere. Third, MFN treatment. Many consider MFN to be the cornerstone of the global trading system. But even a cornerstone should be examined from time to time to ensure it is still supporting the structure we need. The MFN principle, particularly when applied unconditionally, constrains economies’ ability to effectively respond to distortive policies and adapt to changing market conditions. Finally, forced labor. First and foremost a humanitarian issue, but also a trade issue. Goods made with forced labor enter markets with an artificial price advantage, creating unfair competitive conditions for workers and businesses, while eroding trust in the fairness of the global trading system. Over the next two days, we will discuss these issues in depth and it is my intent that we leave Milwaukee with a clearer sense of urgency and a recognition of the need for action. Earlier today, I am pleased most of you joined the field trip to the production facility where Rockwell Automation makes industrial machines—this is the kind of work and economic activity the United States leads in and wants more of. I believe it is important to show, in tangible terms, what kind of economy the Trump Administration