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
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Canada moves to curb steel imports with TRQs
Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.
Commerce launches probe into unfairly traded rebar imports
Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.
Leibowitz on Trade: Who is winning the tariff debate?
Most economists will tell you that universal tariffs will result in inflation and reduce demand, causing a recession or worse. (After all, this is what happened in the 1930s). It is a rare product that is so essential that demand will not go down if prices go up.
Canadian steel industry fears thousands of job losses from US tariffs
The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.