US and EU Discuss New Tariffs on Chinese Steel and Aluminum By IFX

The US and European Union are considering imposing new tariffs on Chinese steel and aluminum as part of the fight against carbon dioxide emissions and global overcapacity, reports Bloomberg, citing people familiar with the matter.

Based on last year's related US-EU agreement, the new framework program is mainly aimed at China, the world's largest carbon emitter and producer, according to them. steel and aluminum, as well as other major polluting countries.

It is noted that the idea, which originated in the administration of US President Joe Biden, is still in its infancy.

Unclear what legal powers the US administration will use to introduce new tax.

One of the interlocutors of the agency said that the issue is still being worked out within the team and in negotiations with the EU, as well as with industry representatives and Congress.

The White House is also negotiating with lawmakers about the possible creation of a new structure to deal with carbon emissions and overcapacity.

The agency suggests that US and EU plans are likely to deepen differences between Beijing and Washington.

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