Steel & Aluminium: EU-US Joint Statement, 31 October 2021

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Publication Date 31/10/2021
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The European Union (EU) and the United States of America (USA) agreed on 31 October 2021 to take steps to re-establish transatlantic trade flows in steel and aluminium, and to strengthen their partnership and address shared challenges in these sectors.

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In June 2018, the US administration introduced tariffs on European steel and aluminium exports, and further tariffs in January 2020 affecting EU exports of certain derivative steel and aluminium products. On both occasions, the EU introduced measures to respond to those tariffs. One last set of EU measures was scheduled to come into force on 1 June 2021, but were later suspended until 1 December to give space for the parties to work together on a longer-term solution.

Following this agreement, such measures would no longer be introduced. Both sides agreed to re-establish trade flows in steel and aluminium, and as part of strengthening their partnership, the EU and US decided to launch negotiations on a global arrangement to address carbon intensity and global overcapacity. This was also called the Global Arrangement on Sustainable Steel and Aluminium. The parties also agreed to pause the bilateral WTO disputes on steel and aluminium.

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Commentary and Analysis
The Wall Street Journal: Opinion, 01/11/2021: The U.S. and EU Shake Up Global Trade
DLA Piper: Insights, 02/11/2021: US lifts Section 232 tariffs on steel and aluminum from the EU effective January 1, 2022 – continues similar negotiations with Japan
Atlantic Council: Blog, 02/11/2021: Goodbye for now, 232: Breaking down the G20 US-EU agreement on steel and aluminum

Politico, 30/10/2021: US and EU agree to ‘pause’ trade war over steel
Deutsche Welle, 30/10/2021: US, EU settle dispute over tariffs on steel, aluminum
Reuters, 31/10/2021: EU and U.S. end clash over steel and aluminium, take aim at China's 'dirty' steel
Associated Press, 31/10/2021: US, EU say deal on steel tariffs will help on climate change
RTÉ News, 31/10/2021: US and EU agree deal to remove steel, aluminium tariffs
CNN News, 31/10/2021: Biden touts 'major breakthrough' with EU to ease Trump-era tariffs on aluminum and steel
BBC News, 01/11/2021: UK steel makers 'left behind' as US ends trade war
EurActiv, 01/11/2021: EU and US slash tariffs, start cooperating on ‘green steel’

European Commission: Press Release, 31/10/2021: 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: Press Release, 31/10/2021: Joint EU-US Statement on a Global Arrangement on Sustainable Steel and Aluminium
European Commission: Statement by EU Commission Executive Vice-President & EU Trade Commissioner Valdis Dombrovskis on a Global Arrangement on Sustainable Steel and Aluminium and EU-US steel and aluminium dispute (31 October 2021)
European Commission: Questions and Answers: EU-US negotiations on trade on steel and aluminium (31 October 2021)
European Commission: Statement by President von der Leyen on a new Global Sustainable Steel Arrangement and EU-US steel and aluminium dispute (31 October 2021)
US Government: White House: Statements & Releases, 31/10/2021: The United States and European Union To Negotiate World’s First Carbon-Based Sectoral Arrangement on Steel and Aluminum Trade
Italian Government: Press Release, 31/10/2021: PM Draghi: Great satisfaction regarding the agreement reached by the EU and US on steel and aluminium tariffs

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