US-EU steel tariff negotiations aim to reduce carbon emissions and excess production capacity

US Trade Representative Katherine Tai expects US-EU negotiations on steel tariffs to reach a fair deal soon. The two-year-long negotiations aim to reduce carbon emissions from steel factories and curb excess production capacity.

Both parties must reach a deal by October 31 or risk tariffs on billions of dollars worth of transatlantic trade. Talks between the two parties hit a wall over disagreements on their proposals earlier this month.