China must act on steel overcapacity or face trade actions: U.S. officials

China must take "timely and concrete actions" to reduce excess production and capacity in its steel industry or face possible trade action from other countries, U.S. officials said on Monday. The warning followed failure to agree measures to tackle a global steel crisis during a meeting on Monday in Brussels of ministers and trade officials from over 30 countries, hosted by Belgium and the Organization for Economic Cooperation and Development. "Unless China starts to take timely and concrete act