{"id":1742,"date":"2022-01-10T08:11:24","date_gmt":"2022-01-10T08:11:24","guid":{"rendered":"http:\/\/www.anfre.com\/?p=1742"},"modified":"2022-01-10T08:11:24","modified_gmt":"2022-01-10T08:11:24","slug":"questions-and-answers-eu-us-negotiations-on-trade-on-steel-and-aluminium","status":"publish","type":"post","link":"https:\/\/anfre.com\/?p=1742","title":{"rendered":"Questions and Answers: EU-US negotiations on trade on steel and aluminium"},"content":{"rendered":"<p><strong>What is the Global Arrangement on Sustainable Steel and Aluminium?<\/strong><br \/>\nThe arrangement is intended to facilitate the decarbonising of the steel and aluminium industries, as<br \/>\nwell as addressing the issue of overcapacity in these industries caused by non-market practices in<br \/>\nsome economies.<\/p>\n<p>The EU and US have agreed to start discussions on this Arrangement as soon as possible, and<br \/>\nconclude them within two years. We want to make this Arrangement open to all like-minded<br \/>\neconomies.<\/p>\n<p><strong>How will the Arrangement help achieve decarbonisation?<\/strong><br \/>\nEach participant in the arrangement should undertake to facilitate trade in steel and aluminium that<br \/>\nmeets relevant standards, for instance as regards low-carbon intensity.<\/p>\n<p>They should ensure that domestic policies support the production of steel and aluminium with low<br \/>\ncarbon intensity.<\/p>\n<p>In addition, they should consult on government investment in decarbonisation, and refrain from nonmarket practices that contribute to high carbon intensity steel and aluminium production.<\/p>\n<p><strong>How will the Arrangement restore market-oriented conditions in the steel trade?<\/strong><br \/>\nEach participant will promote trade in carbon friendly steel and aluminium.<\/p>\n<p>Each participant will ensure that domestic policies encourage \u201cGreen Steel and Aluminium<br \/>\nproduction\u201d.<\/p>\n<p>Participants would undertake to apply measures in line with their trade defence rules.<br \/>\nMoreover, they will refrain from non-market practices that contribute to non-market oriented<br \/>\ncapacity.<\/p>\n<p>They will also screen inward investments from non-market-oriented actors in accordance with their<br \/>\nrespective domestic legal framework.<\/p>\n<p><strong>Is this Arrangement exclusive to the EU and the US?<\/strong><br \/>\nNo; the EU and the US will encourage other like-minded economies to participate.<\/p>\n<p><strong>Will you negotiate one arrangement for both sectors or two separate arrangements?<\/strong><br \/>\nThis is not yet decided, and will depend upon further consultations between the EU and US and with<br \/>\nthe respective industries.<\/p>\n<p><strong>What did the US do with the Section 232 tariffs?<\/strong><br \/>\nThe US has announced that it will no longer apply the Section 232 tariffs on a certain amount of EU<br \/>\nexports of steel and aluminium (under \u201ctariff-rate quotas\u201d (TRQs)), effective as of 1st January 2022.<br \/>\nThese TRQs amount to the historical volumes of EU steel and aluminium exports to the US.<\/p>\n<p><strong>What are \u201chistorical volumes\u201d?<\/strong><br \/>\nThe volume of EU steel and aluminium that was exported to the US prior to the imposition of the 232<br \/>\nmeasures in 2018 and the volume of EU aluminium prior to 2020 with exception of aluminium foil for<br \/>\nwhich the baseline is annualised 2021 data.<\/p>\n<p><strong>What is the EU doing in response?<\/strong><br \/>\nThe EU intends to suspend as of 1 January 2022 its rebalancing measures against the US that were<br \/>\nintroduced in June 2018 in response to the US Section 232 tariffs on steel, aluminium and derivative<br \/>\nproducts. It will also continue without interruption the suspension of the increase in rebalancing<br \/>\nmeasures (so-called \u201csecond tranche\u201d) set for 1 December 2021.<\/p>\n<p>In addition, the EU has agreed with the US that both sides will hit the pause button on their<br \/>\nrespective WTO cases against each other.<\/p>\n<p><strong>What are the \u201crebalancing measures\u201d?<\/strong><br \/>\nThe US tariffs applied towards the EU from June 2018 affected \u20ac6.4 billion of European steel and<br \/>\naluminium exports, and further tariffs applied from February 2020 affected around \u20ac40 million of EU<br \/>\nexports of certain derivative steel and aluminium products.<\/p>\n<p>In response, the EU introduced rebalancing measures in June 2018 on US exports to the EU in a<br \/>\nvalue of \u20ac2.8 billion.<\/p>\n<p>The remaining rebalancing measures, affecting exports valued up to \u20ac3.6 billion, were scheduled to<br \/>\nenter into force on 1 June 2021. The EU suspended these measures until 1 December 2021 in order<br \/>\nto give space for the parties to work together to reach a longer-term solution.<\/p>\n<p>Following today&#8217;s announcement by the US, all these measures will be suspended.<\/p>\n<p><strong>What are the next steps?<\/strong><br \/>\nThe EU will initiate its decision-making procedure under the EU Trade Enforcement Regulation with a<br \/>\nview to suspend the rebalancing measures. The decision-making involves an examination and voting<br \/>\nprocedure with Member States.<\/p>\n<p><strong>How will this help EU workers and business?<\/strong><br \/>\nThe removal of the Section 232 tariffs on historical volumes of EU exports of steel and aluminium<br \/>\nshould reduce costs for steel and aluminium exporters, helping to support the sustainability of two<br \/>\nindustries that together employ 3.6 million people in the EU.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Global Arrangement on Sustainable Steel and Aluminium? The arrangement is intended to facilitate the decarbonising of the steel and aluminium industries, as well as addressing the issue of overcapacity in these industries caused by non-market practices in some economies. The EU and US have agreed to start discussions on this Arrangement as &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/anfre.com\/?p=1742\">Seguir leyendo<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1742","post","type-post","status-publish","format-standard","hentry","category-sin-categoria","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Questions and Answers: EU-US negotiations on trade on steel and aluminium - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"es_ES\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Questions and Answers: EU-US negotiations on trade on steel and aluminium - Asociaci\u00f3n Nacional de Fabricantes e Instaladores de Productos Refractarios, Materiales y Servicios Afines\" \/>\r\n<meta property=\"og:description\" content=\"What is the Global Arrangement on Sustainable Steel and Aluminium? 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