Tai, Dombrovskis Talk Steel Decarbonization
At a press conference at the end of the first day of the EU-U.S. Trade and Technology Council, U.S. Trade Representative Katherine Tai said that the U.S. and EU are "on track" to reach an agreement on preferencing trade in fairly traded clean steel and aluminum by next November. The two sides gave themselves that deadline when the U.S. said it was moving from tariffs on EU steel to a tariff-rate quota approach.
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Tai said Dec. 5 that they will be putting "the power and the leverage of our markets together to create a free, fair and a clean market structure for pushing the future of trade in steel and aluminum." She said she and her EU counterpart, Valdis Dombrovskis, talked about the process in October and again that day. "I think it is one of the most consequential things that we're working on between the U.S. and the EU are working on with respect to trade," she said.
Dombrovskis said that the announcement that the TTC will be launching a sustainable trade initiative will make the embedded emissions discussion broader, and he hopes the two sides will develop "a common language how decarbonization is actually being done."