Biden to Meet EU Officials in Washington to Discuss Steel

US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.

The meeting comes as negotiations are due to expire on Oct. 31 for the Global Arrangement on Steel and Aluminum, which is being worked on by the EU and the US.

“I think there is willingness on both sides at least to reach an agreement,” a senior EU official was quoted in the article as saying. The official preferred to remain anonymous.

If a deal is not reached, this could trigger the reinstatement of Section 232 tariffs on steel and aluminum on EU exports to the US. These tariffs have been suspended since 2021.

In turn, this could provoke retaliatory measures by the EU. Additionally, a possibility exists that some interim accord can be reached, and the negotiations extended.

Other subjects that could be touched on in the meeting include the war in Ukraine and green subsidies in the US Inflation Reduction Act, the article said.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.