Posted on 24 Oct 2023
The United States and European Union have thus far failed to outline the specific terms of a steel tariff agreement, Kallanish learns from monitoring statements during summit discussions at the White House.
Both parties have been negotiating new measures to avoid Trump-era levies and expenses, pursuant to an agreement made on 31 October 2021, known as the Global Arrangement on Sustainable Steel and Aluminium. The Trump tariffs will return if a formal agreement is not in place by the self-imposed deadline of 31 October 2023.
“Throughout these two years, we have made substantial progress to identify the sources of non-market excess capacity. We have also achieved a better understanding of the tools to address the emissions intensity of the steel and aluminium industries. We look forward to continuing to make progress on these important objectives in the next two months,” the US and EU proclaim in a joint statement issued Friday.
It is not clear whether the US and EU will extend their deadline past 31 October.
Source:Kallanish
