United States, EU agree to address steel and aluminum trade issues, customs duties

Temporary hold on any additional customs duties on steel and aluminum

Temporary hold on any additional customs duties on steel and aluminum

Representatives of the European Commission and the U.S. government today announced the parties would enter into discussions to address global steel and aluminum trade issues.

According to news reports, the agreement reflects a temporary hold on any additional customs duties on steel and aluminum.

A joint release from the EC and United States reflects an acknowledgement for “effective solutions” and for “a path that ends the WTO disputes following the U.S. application of tariffs on imports from the EU under section 232.”

The parties agreed:

  • The impact on industries stems from global excess capacity driven largely by third parties. 
  • The distortions that result from this excess capacity pose a serious threat to the market-oriented EU and U.S. steel and aluminum industries and the workers in those industries. 
  • The United States and EU Member States can partner to promote high standards, address shared concerns, and hold to account countries (such as China) that support trade-distorting policies. 

There is further agreement:

  • To enter into discussions on the mutual resolution of concerns in this area that addresses steel and aluminum excess capacity and the deployment of effective solutions, including appropriate trade measures, to preserve critical industries
  • To avoid changes on these issues that negatively affect bilateral trade
  • To engage in discussions to find solutions before the year-end that will demonstrate how the United States and the EU can address excess capacity and address the long-term viability of the steel and aluminum industries
     

For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:

Doug Zuvich
Partner and Global Practice Leader
T: 312-665-1022
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
T: 267-256-2614
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
T: 631-425-6057
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
T: 415-963-7861
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
T: 212-954-3094
E: labad@kpmg.com

Irina Vaysfeld
Principal
T: 212-872-2973
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
T: 202-533-3247
E: aahanchian@kpmg.com

Christopher Young
Principal
T: 312-665-3229
E: christopheryoung@kpmg.com

Gisele Belotto
Managing Director
T: 305-913-2779
E: gbelotto@kpmg.com

George Zaharatos
Principal
T: 404-222-3292
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
T: 313-230-3080
E: adoornaert@kpmg.com

Jessica Libby
Managing Director
T: 612-305-5533
E: jlibby@kpmg.com

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