It seems likely that the US and the EU will not be able to finalize their Global Arrangement on Sustainable Steel and Aluminum (GSA) to manage steel and aluminum trade by the deadline of October 31 this year, even though the talks between the sides have intensified in recent weeks, according to a report by Bloomberg.
The parties - which will have to either extend the deadline or the Section 232 tariffs and EU retaliatory measures on more than $10 billion of exports will return - are said to have made progress on how to resolve the oversupply issue, especially oversupply from China.