The global arrangement on sustainable steel and aluminium between the EU and the United States is still no closer to becoming a reality. Instead, on Wednesday 17 April, US President Joe Biden called on the Commerce Department to study the idea of tripling tariffs on Chinese steel and aluminium in order to protect American workers.
US customs duties on these products currently stand at 7.5%. The EU benefits from an exemption, but its exports to the United States are still subject to a maximum quota. “The situation remains unbalanced”, said European Trade Commissioner Valdis Dombrovskis on Thursday 18 April in Washington, alongside a meeting at the IMF.
As for Chinese overcapacity, according to the Commissioner, discussions on both sides of the Atlantic on this subject are essential. Ideally, the EU would like to see a coordinated response, rather than an increase in US tariffs that could have an impact on the European market.
The European safeguard measures on steel and aluminium expire next June and an investigation has been opened by the Commission to assess the need to extend them (see EUROPE 13347/16).
Agreement on critical minerals
On Thursday 18 April, Mr Dombrovskis indicated that the EU and the United States were close to an agreement on critical minerals. The negotiation process is drawing to a close, but several sources have told Agence Europe that discussions remain difficult, with important issues still open.
“If there is the political will, we will be able to reach an agreement on critical minerals”, said Mr Dombrovskis. (Original version in French by Léa Marchal)