The United States and European Union on 20 October in Washington will introduce a proposed political agreement to curb excessive Chinese steel products through new tariffs, according to reports.
European steelmakers’ association Eurofer says it anticipates a strong interim agreement to lay the foundation for a comprehensive deal months later (see separate Kallanish story).
According to Bloomberg, the summit in Washington will focus mostly on excessive steel products from China and other countries thought to participate in unfair market practices. Other nations will be invited to adopt the Global Arrangement on Sustainable Steel and Aluminium framework around tariffs and levies. Tariff levels and targets are not finalised, reported the Financial Times.
The EU and US are working toward an agreement before 31 October, to avoid the reimposition of Section 232 tariffs on Europe.
Kristen DiLandro USA
