US Trade Representative Jamieson Greer has called for a new approach to global trade rules, saying countries need to rethink parts of the post-World War II trading system. He made the remarks while opening the G20 Trade Ministerial in Milwaukee on September 30, 2026.Key HighlightsGreer called for a more balanced global trading system.The US wants G20 countries to address excess industrial capacity and production.Washington is pushing discussions on food trade, forced labour and the Most-Favoured-Nation principle.Greer said the existing post-World War II tariff system should be re-examined.India’s Commerce and Industry Minister Piyush Goyal is participating in the G20 trade meeting.The two-day ministerial meeting is being held in Milwaukee.Greer Calls for New Global Trading SystemGreer said the United States wants to work with G20 members to develop a trading system that it considers more balanced and reciprocal.In his opening remarks, Greer described the participants as potential “architects of a new international economic order” and said the US wanted to work with other countries to build a new trading system.He pointed to tariffs and bilateral trade agreements used by the Trump administration as part of its approach to reducing the US trade deficit, strengthening supply chains and changing trade relationships.Four Key Trade Issues at G20 MeetingThe US presidency of the G20 Trade Ministerial has identified four main areas for discussion: the weaponisation of food trade, structural excess capacity and production, the Most-Favoured-Nation principle and forced labour in global supply chains.Greer also called for countries to address industrial overcapacity, an issue that has particularly involved discussions about China's manufacturing and export capacity.At a related Global Forum on Steel Excess Capacity meeting, members agreed on the Milwaukee Framework for joint action addressing excess steel capacity and related market distortions.US Questions Existing Trade RulesGreer criticised the tendency to move difficult trade discussions to the World Trade Organization in Geneva, arguing that G20 members should discuss these issues directly.The remarks come as the WTO itself is examining how its rules can be updated. Its 2026 World Trade Report says the global trading system is facing pressure from geopolitical tensions, government intervention, digitalisation, artificial intelligence and changes in global supply chains.The WTO has also said that reforming and strengthening the multilateral trading system could support global economic growth, while a failure to modernise the system could carry significant economic costs.India Participates in G20 Trade TalksUnion Commerce and Industry Minister Piyush Goyal is representing India at the G20 Trade Ministers' meeting in Milwaukee.India is participating in discussions on the future of global trade, supply chains and international trade rules. Goyal also met Greer during the opening day of the meeting.The meeting comes as India and the United States continue discussions on bilateral trade. Prime Minister Narendra Modi and US President Donald Trump also spoke by phone on September 30, with trade among the issues discussed.What the New Trading Order Could Focus OnThe discussions in Milwaukee are centred on changing how countries address trade imbalances, industrial overcapacity, supply-chain risks and labour standards.Greer's comments indicate that the US wants these issues to play a larger role in future international trade arrangements. However, the G20 meeting itself does not establish a new global trade system immediately. Discussions and negotiations among participating economies will determine how any proposed changes develop.
