The USA to impose quota on steel imported from EU instead of Article 232 measures

The United States and the European Union (EU) have reached an agreement, taking into account the serious threat posed to workers, manufacturers and the climate by overcapacity and market disruptions in the global steel and aluminum markets, predominantly from China, the US Trade Representative's (USTR) office said in a statement. The parties eliminated the commercial dispute caused by the Article 232 taxes, which started to be implemented in 2018.

According to this cooperation, the US will impose a taxable quota on steel and aluminum products imported from the EU, instead of Article 232 duties, to meet the demand of end users. In addition, the EU will suspend additional duties on products imported from the USA. The US and EU will hold talks on future regulations regarding the carbon intensity of the steel and aluminum sectors. Both parties will expand their coordination involving trade solutions and customs issues, and will meet regularly to develop additional decisions to address non-market overcapacity.

Öte yandan, ABD Ticaret Bakanlığı, ABD ve İngiltere’nin, kapasite fazlasının küresel çelik ve alüminyum pazarları üzerindeki etkilerine odaklanarak çelik ve alüminyumla ilgili konularda görüşmeler yaptığını açıkladı. Taraflar, 2020 yılında 250 milyar $’ı aşan mal ve hizmet ticaretiyle birbirlerinin en büyük yatırımcıları konumunda bulunuyor.