Solving U.S-EU dispute over steel, aluminum no easy task
By Andrea Shalal
Reuters
WASHINGTON (Reuters) -The American Iron and Steel Institute (AISI) on Tuesday welcomed the Biden administration s commitment to address the problem of global excess steel capacity together with the European Union, but warned that securing meaningful change would take time.
The group s president, Kevin Dempsey, said it was essential that Washington maintain strong and effective trade measures to prevent surges in steel imports from around the world that could quickly undermine the U.S. industry and our national security.
The comments came after a U.S.-EU summit at which the two sides agreed to suspend tariffs in a pair of cases involving aircraft subsidies, saying the move would strengthen cooperation in other areas, including steel and aluminum.
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A group of over 30 US trade associations sent a letter to President Joe Biden June 9, requesting an end to the Section 232 steel and aluminum tariffs and quotas on trade allies. “The tariffs, intended to help the steel and aluminum producing industries, imposed substantial costs on a much broader segment of the US .
EU, US agree to pursue talks By CHEN WEIHUA in Brussels | China Daily | Updated: 2021-05-19 09:10 Photo taken on Feb 23, 2018 shows a view of the port area of Hamburg, Germany. [Photo/Xinhua]
Europeans suspend tit-for-tat tariffs on steel and aluminum for up to six months
The European Union and the United States agreed on Monday to pursue talks to end their dispute over steel and aluminum tariffs, with the EU suspending retaliatory measures in the hope Washington reciprocates during US President Joe Biden s visit to Brussels next month.
Biden is scheduled to hold a summit with EU leaders in June. It will be his first trip to Brussels since taking office in January.
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