In order to avoid re-imposing tariffs from the Trump administration on transatlantic trade, U.S. and European Union leaders hope to announce a temporary agreement on steel and aluminium trade at their summit on October 20.
The Global Arrangement for Sustainable Steel and Aluminium, which the EU and U.S. have been negotiating since 2021, includes addressing non-market excess capacity and carbon emissions. White House and European Commission officials are negotiating a provisional political agreement that would cover these two main planks, the report said citing people familiar with the talks.