- November 2, 2021
EU and US agree to start discussions on a Global Arrangement on Sustainable Steel and Aluminium and suspend steel and aluminium trade disputes
European Commission President von der Leyen and United States President Biden agreed today to start discussions on a Global Arrangement on Sustainable Steel and Aluminium. This marks a new milestone in the transatlantic relationship, and in EU-US efforts to achieve the decarbonisation of the global steel and aluminium industries in the fight against climate change. The two Presidents also agreed to pause the bilateral World Trade Organization disputes on steel and aluminium. This builds on our recent successes in rebooting the transatlantic trade relationship, such as the launch of the EU-US Trade and Technology Council and the suspension of tariffs in the Boeing-Airbus disputes.
Steel and aluminium manufacturing is one of the highest carbon emission sources globally. For steel and aluminium production and trade to be sustainable, we must address the carbon intensity of the industry, together with problems related to overcapacity. The Global Arrangement will seek to ensure the long-term viability of our industries, encourage low-carbon intensity steel and aluminium production and trade, and restore market-oriented conditions. The arrangement will be open to all like-minded partners to join.CONTINUE READING ON: ec.europa.eu