WASHINGTON (Pakistan Point News / Sputnik - 21st July, 2023) The United States and Europe discussed on Thursday steps needed to fulfill their commitments to an accord on steel and aluminum ahead of its October deadline, the Office of the US Trade Representative (USTR) said Thursday.
US Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis at the USTR office in Washington to appraise each other on the progress made towards the accord, which seeks to address excess capacity in global steel and aluminum, and the threat from those market distortions to workers, producers and the climate.
"Today's meeting largely focused on the negotiations related to the Global Arrangement on Sustainable Steel and Aluminum. Ambassador Tai and Executive Vice President Dombrovskis had a direct and candid exchange about the work that must be completed in order to fulfill the previously agreed deadline of October 2023," the USTR said in a statement.
Tai stressed the importance of both sides generating proposals that would adequately address concerns on carbon intensity and non-market excess capacity in the two metals, the statement said.
"Ambassador Tai underscored that, with the October deadline approaching, the United States and European Union need to deliver a high-standard agreement worthy of the two years that both sides will have spent in negotiations," the USTR said, adding that the outcome must be one reflecting the trust, commitment and confidence that characterizes the best of US-EU partnership.
The accord, among others, stipulates that the EU will suspend additional duties imposed on US steel and aluminum, and that the United States and the EU suspend disputes they have initiated against each other with regard to those.
