U.S. Wants Export Caps in Return for Scrapping Tariffs
Posted by Joseph Keefe
Friday, March 16, 2018
The United States has set conditions for scrapping its planned punitive tariffs on steel and aluminum imports from Europe, German magazine Der Spiegel reported, including capping U.S.-bound exports of the metals at 2017 levels.
The European Union has been pushing for talks to avert a trade war since U.S. President Donald Trump announced he would slap tariffs on a raft of high-value European exports in retaliation for alleged steel and aluminium dumping.
The conditions named by U.S. Trade Representative Robert Lighthizer at a Brussels meeting with EU Trade Commissioner Cecilia Malmstrom also included a promise that Brussels take measures against steel dumping from China and cooperate in a wide range of other trade issues, Spiegel reported on Friday.
He also set out conditions in the field of defence policy - Europe had to provide "proof" that it would step up its armaments efforts, the newsmagazine said.
U.S. Commerce Secretary Wilbur Ross and Malmstrom have agreed to meet next week try to resolve the deepening dispute over trade tariffs, a European Commission source said on Thursday.
Reporting by Thomas Escritt