Trade Cases
USTR Meets with EU Official on Steel, Aluminum Deal
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.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Trade Cases
Steel Summit: Zekelman advocates for ‘Fortress North America’
Barry Zekelman has a unique vantage point from which to view today’s trade landscape. A Canadian national who owns operations in both the US and Canada, he has also had dialogue with both Canadian and American administrations.
Steel Summit: Execs urge clarity on trade/tariff policy, want stronger USMCA
Tariff policy dominated the discussion of the SMU Steel Summit trade panel on Tuesday afternoon. The message was clear: uncertainty is rattling the steel supply chain.
Final AD/CVD margins announced in coated steel trade case
The Commerce Department announced the final anti-dumping and countervailing duty (CVD) margins in the sprawling trade case investigating corrosion-resistant steel imports.
Canada agrees to drop most retaliatory tariffs
Canada has agreed to drop some retaliatory tariffs on US products, effective Sept. 1.
Price on trade: What a difference a year makes!
As everyone surely knows by now, the SMU Steel Summit starts on Monday in Atlanta, Ga. So, this is a great opportunity to reflect on how much has changed since the 2024 Summit. Certainly, no one could have imagined the wholesale and transformative changes to U.S. and global trade policy.