AISI Statement on US-EU Agreement to Extend Steel TRQs

WASHINGTON, DC- Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), issued the following statement in response to the statement released today by the European Union (EU) that it had reached an agreement with the United States to extend the U.S. tariff-rate quotas (TRQs) on steel and the EU suspension of its retaliatory tariffs into 2025:

“AISI welcomes the agreement by the U.S. and EU to extend the steel TRQs and the suspension of retaliatory tariffs to allow for further negotiations toward the proposed Global Arrangement on Sustainable Steel and Aluminum. AISI continues to support the negotiation of a new international arrangement that will effectively address both non-market excess capacity in steel and the carbon intensity of steel imported from around the world, as these two related issues are critical to the future of both the U.S. and EU steel industries.”

Dempsey noted that President Biden is expected to issue a formal proclamation before the end of the year extending the TRQs until the end of 2025.

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel).