Leibowitz: US-EU Fail To Compromise, Deadlock on Steel and Aluminum

The long-anticipated US-EU summit took place on October 20. There was wide anticipation that the two sides would announce a partial agreement on steel and aluminum policy and perhaps an agreement on critical minerals, such as lithium for electric vehicle batteries. Even modest accomplishments such as these were not to be.

Instead, the US and EU at the summit (between European Commission President Ursula von der Leyen and US President Joe Biden) came up with no new agreements but instead a rather tepid and lengthy (~3,900 words) joint statement. The two sides agreed to keep talking without even a partial agreement on steel and aluminum. Thus, traders, manufacturers, and transportation providers will not know whether steel and aluminum tariffs will snap back into place in January (postponed from the end of October 2023) or whether the “tariff rate quota” regime agreed to in 2021 will continue.

Lewis Leibowitz

Lewis Leibowitz, owner of the Law Office of Lewis E. Leibowitz, practices in the areas of international trade law, customs law, and international commercial transactions. He represents clients before all federal courts and agencies dealing with international trade matters. Mr. Leibowitz advises and assists clients in diverse matters including trade remedies, customs, foreign-trade zones and free trade agreements, trade negotiations, and related matters. He can be reached at lewis.leibowitz@lellawoffice.com.