5 months ago
Finance Minister Klingbeil considers this important for the German steel industry
Before meeting with his American counterpart Scott Besent, German Vice Chancellor and Finance Minister Lars Klingbeil said that the quota system for European steel imports to the US is one of the issues he intends to raise. This was reported by Bloomberg.
“It’s precisely in the steel industry where there are indications that there could be a quota system — exceptions on both sides of the Atlantic,” he told reporters in Washington on August 4.
Klingbeil added that this would be important for the German steel industry and for many jobs in Germany.
The meeting between Scott Bessent and Lars Klingbeil took place on August 4 in the US. According to an official statement from the US Treasury, the parties discussed, among other things, a “historic trade agreement.”
The agreement between the US and Europe, concluded in July, provides for 15% tariffs on most imported goods from the bloc. Brussels has received partial exemption from certain sectoral tariffs, for example, for cars, but not for steel and aluminum — negotiations on this issue are ongoing in relation to quotas.
Recall that German Chancellor Friedrich Merz said that the European Union will negotiate with the United States on steel, focusing on quotas under which exports can be made without excessively high tariffs. He also noted that the government will do everything to preserve the German metallurgical sector and steel production in the country.
As GMK Center reported earlier, EU steelmakers criticized the trade agreement with the United States due to the preservation of 50% tariffs on steel. The industry demands fair trade conditions and protection from excessive imports.
In particular, WV Stahl CEO Kerstin Maria Rippel stressed the need to create a steel alliance between the EU and the US to jointly combat global overcapacity and called on the European Commission to implement the provisions of the action plan on steel and metals.
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