Kevin Dempsey, CEO of the American Iron and Steel Institute (AISI), has expressed mixed feelings about the ongoing U.S.-EU negotiations on sustainable steel. While appreciative of the U.S. government's efforts, Dempsey shows disappointment in the EU's lack of agreement on key trade measures concerning steel capacity and carbon intensity.
In a recent statement, Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), weighed in on the sustainable steel negotiations between the U.S. and the European Union. The remarks were released following a summit between U.S. President Joe Biden and European Commission President Ursula von der Leyen.
Dempsey expressed gratitude towards the U.S. government for their continued negotiations aimed at creating an international arrangement to tackle the steel industry's pressing issues. These issues primarily focus on non-market excess capacity and the carbon intensity of steel imports globally.
However, the AISI CEO also voiced disappointment with the European Union. According to him, the EU has not been prepared to agree to U.S. proposals for establishing new trade measures that would effectively address these challenges. These trade measures are crucial for the survival and growth of both the U.S. and EU steel sectors.
AISI recognizes the complexity of these negotiations, which involve sensitive topics like trade and environmental policies. Dempsey thanked the Biden administration for persevering in the talks, despite the challenges presented.
The American steel industry is advocating for an agreement that not only addresses the excess capacity issue but also puts a tariff on imports with higher carbon emissions. Such a comprehensive agreement would not only protect the American steel industry but also drive it towards a more sustainable future.
The statement highlights the stakes involved in these negotiations. Both the U.S. and the EU have much to gain from an agreement that adequately deals with excess capacity and carbon emissions, and the road ahead will likely continue to be challenging.
The U.S.-EU negotiations on sustainable steel are clearly at a critical juncture. While the AISI appreciates the efforts by the U.S. government, there's disappointment at the EU's reluctance to agree on vital trade measures. The future of the steel industry in both regions hinges on these talks, making a successful outcome imperative for long-term viability.
