China’s Premier, Li Keqiang, delivered an annual report for 2016 that did not include new trade policies, though he did call for a 50 million ton reduction in steel production. While this only represents 5% of national production, it may be designed to show leadership in the Global Forum on Steel Overcapacity. Panjiva data shows China’s exports have already been falling, with a 9% drop in 2016 vs. 2015. That was led by a fall in shipments to the U.S. after implementation of several trade cases. Exports to the EU also fell through most of the year, though they did increase in December.