US economy

USTR Tai says she is optimistic of resolving EU metal tariff dispute



© Reuters. U.S. Trade Representative Katherine Tai addresses the Geneva Graduate Institute on the role of the World Trade Organization (WTO) in the global economy and U.S. policy priorities ahead of the 12th Ministerial Conference in Geneva, Switzerland October 14,

BRUSSELS (Reuters) – U.S. Trade Representative Katherine Tai said on Thursday she was optimistic of resolving a dispute with the European Union over steel and aluminium tariffs, insisting that the solution also required a joint effort to combat overcapacity.

Former U.S. President Donald Trump imposed tariffs of 25% on steel and 10% on aluminium from the European Union, along with other economies such as China, India, Russia and Switzerland.

The European Commission, which oversees EU trade policy, has agreed to suspend a planned increase in retaliatory duties until Dec. 1 and to launch formal talks on addressing excess global capacity largely centred in China.

“The conversations are intensive,” Tai told a briefing of reporters on Thursday after talks with European Commission vice-president Valdis Dombrovskis. “Let’s say I’m optimistic.”

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