Synopsis:
The EU urges the US to enhance tariff-rate quota management, seen as inflexible, amidst ongoing Global Arrangement on Sustainable Steel and Aluminium negotiations. Lack of progress in resolving disputes threatens to reintroduce tariffs, prompting concerns for EU-US trade relations and global climate protection efforts.
Article:
In the ongoing negotiations between the EU and the US under the Global Arrangement on Sustainable Steel and Aluminium (GASSA), the European Union is advocating for significant improvements in the US's management of tariff-rate quotas (TRQs). European Commission Vice President Valdis Dombrovskis emphasized the need for enhanced flexibility in TRQ management, labeling the current approach as rigid and urging noticeable improvements.
The GASSA discussions between the EU and the US have hit a roadblock, primarily concerning the US's reluctance to commit to withdrawing the Section 232 tariff-rate quotas imposed on EU exports. While the EU has suspended its measures, the persistent imposition of TRQs by the US complicates negotiations and poses challenges to trade relations.
With the negotiation deadline extended until year-end, both parties are focusing on enhancing TRQ management to prevent potential trade disruptions. The EU insists on substantial improvements in the US's TRQ handling before determining their next steps.
Eurofer, representing European steelmakers, expressed concerns over the impasse, emphasizing its potential detrimental impact on global climate protection efforts. The absence of an agreement could hamper the steel industry's initiatives toward decarbonization and showcases diplomatic hurdles between the EU and the US.
Conclusion
Eurofer calls for prompt resolution and urges the EU and the US to reach a consensus. The association emphasizes the urgency of settling trade disputes and advancing climate protection endeavors. Failure to bridge differences might hinder global efforts toward carbon-neutral industries and impede progress toward climate objectives.
