The World Steel Association warns that China's steel overcapacity has become increasingly difficult to address despite years of policy initiatives. Persistent excess production floods global markets through aggressive exports, disrupting pricing mechanisms & undermining profitability for producers worldwide. Numerous countries have imposed trade defense measures including antidumping & countervailing duties targeting Chinese steel. The overcapacity situation inhibits global investment in modernization & decarbonization technologies by creating market uncertainty. Existing multilateral mechanisms including the Global Forum on Steel Excess Capacity have achieved limited results, as countries disagree on overcapacity definitions, measurement methodologies, & appropriate remedial measures.