According to media reports, the US will extend the suspension of the Section 232 tariffs on steel imports from the EU as the two sides need more time to agree on measures to address overcapacity and low-carbon production.
The parties held a meeting in Washington, D.C. on October 20 but failed to reach an agreement, as SteelOrbis previously reported. Trade representatives had set an end-of-October deadline, but negotiators are now reported to be targeting the end of the year for a deal.
The Section 232 tariffs on EU steel imports were first suspended in January 2022 for two years and replaced with a tariff quota system.