EU and U.S. end clash over steel and aluminium, take aim at China’s ‘dirty’ steel – Reuters

EU and U.S. end clash over steel and aluminium, take aim at China’s ‘dirty’ steel – Reuters

ROME, Oct 31 (Reuters) - The United States and the European Union on Sunday ended a dispute over steel and aluminium tariffs and said they would work on a global arrangement to combat "dirty" production and overcapacity in the industry.

The future EU-U.S. arrangement will be a challenge for China, which produces more than half of the world's steel and which the EU and U.S. accuse of creating overcapacity that is threatening the survival of their own steel industries.

"The United States and the European Union have reached a major breakthrough that will address the existential threat of climate change while also protecting American jobs and American industry," U.S. President Joe Biden told reporters in Rome in a joint event with European Commission head Ursula von der Leyen on the sidelines of the G20 summit.