Trade Cases
USTR Meets with EU Official on Steel, Aluminum Deal
Written by Ethan Bernard
July 21, 2023
US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR.
In her meeting with EC EVP Valdis Dombrovskis, “Ambassador Tai stressed the importance of both sides generating ambitious proposals in order to address shared concerns on carbon intensity and non-market excess capacity in the steel and aluminum industries,” the release said.
USTR said the US and EU “need to deliver a high-standard agreement worthy of the two years that both sides will have spent in negotiations.” The deadline for the agreement is October.
Ahead of the meeting, however, Dombrovskis said the US won’t be able to resolve its issues around steel with the EU with a deal that discriminates against other countries, according to an article in the Financial Times on Thursday.
Recall that EU and US are at odds over the EU’s proposed carbon border adjustment mechanism (CBAM) that could see carbon tariffs placed on goods imported to the European Union. The US wants an exemption on CBAM.
If no deal is reached by October, it could mean the reinstatement of Section 232 tariffs on steel and aluminum products from the EU. This, in turn, could prompt retaliatory measures by the EU on US products
The meeting Thursday follows a previous meeting between the two officials on July 5 in Washington, D.C.
Ethan Bernard
Read more from Ethan BernardLatest in Trade Cases
SMU Survey: Less support seen for Trump tariff policies
Meanwhile, an increasing number think it's too early to say whether the penalties are going to bring more manufacturing to the US.
CRU: USW seeks exclusion from Trump’s tariffs
The union is also urging stronger enforcement against countries such as China which break trade rules, and a coordinated Canada-US strategy to protect union jobs across the North America
Price on trade: A lot happened last week – and it wasn’t all about tariffs
Should foreign investment be allowed to reshape the American steel Industry? Not to be lost in the recent on-again-off-again tariff frenzy, Nippon Steel’s proposed takeover of U.S. Steel has also found itself in President Trump’s crosshairs when it comes to trade and industrial policy. Nippon Steel initially announced its nearly $15-billion bid for U.S. Steel […]
Trump signs executive order aimed at making US shipbuilding ‘great again’
President Trump on Wednesday signed an executive order meant to breathe new life into American shipbuilding and curb Chinese dominance in the sector.
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.