Synopsis: Negotiations between the US and the European Union regarding steel and aluminum trade remain unresolved, putting a deal's announcement at a Washington summit in jeopardy. The impending year-end deadline could see the return of tariffs on substantial transatlantic trade, affecting the plans of US President Joe Biden, European Commission President Ursula von der Leyen, and European Council President Charles Michel.Article: As the US and the European Union prepare for a summit in Washington, the critical issue of steel and aluminum trade has yet to find a resolution. The two parties are stuck in negotiations and seem likely to continue discussions until a looming year-end deadline. Failure to reach an accord before this deadline would result in the re-imposition of tariffs on extensive transatlantic trade, leaving US President Joe Biden, European Commission President Ursula von der Leyen, and European Council President Charles Michel unable to announce a deal on the "Global Arrangement on Sustainable Steel and Aluminum" during the scheduled Washington meeting on Friday.This deadlock in negotiations poses a significant challenge, preventing the parties from achieving the anticipated breakthrough at the summit. The Global Arrangement on Sustainable Steel and Aluminum is a key element in the trade relationship between the US and the EU. It aims to promote sustainable production practices and address environmental concerns related to the steel and aluminum industries. However, the ongoing stalemate suggests that an agreement is elusive, and the implications of not reaching a deal by the year-end deadline are concerning.The potential return of tariffs on transatlantic trade is a scenario that both sides would prefer to avoid. The previous era of trade tensions, marked by tariffs imposed by the Trump administration, was characterized by retaliatory measures and an overall negative impact on economic relations. A failure to secure an accord on steel and aluminum trade risks a return to these contentious times, complicating efforts to strengthen the US-EU trade relationship.One of the main hurdles in the negotiations revolves around the details of the proposed Global Arrangement, including issues related to subsidies, pricing, and environmental standards. These complexities have impeded swift progress and left both sides searching for common ground. Without a breakthrough in these discussions, the potential consequences of tariff re-imposition loom large.As the year-end deadline approaches, there is growing urgency to find a solution. The economic repercussions of a tariff reprise on transatlantic trade could have far-reaching effects, and both the US and the EU have a vested interest in avoiding this outcome.Conclusion: The US and the European Union are currently at an impasse in their negotiations on steel and aluminum trade. This unresolved issue threatens to disrupt plans for a deal's announcement at the upcoming Washington summit, where discussions were expected to focus on the "Global Arrangement on Sustainable Steel and Aluminum." Failure to reach an accord by the year-end deadline would result in the return of tariffs on transatlantic trade, a scenario both sides aim to avoid. The complexities surrounding the proposed arrangement, including subsidies, pricing, and environmental standards, have hindered progress and require swift resolution to prevent the potential re-imposition of tariffs.