Overcapacity remains the main agenda item for Saturday, when Malmstrom will host Japanese trade minister Hiroshige Seko and U.S. Trade Representative Robert Lighthizer.
The European Union expects to be excluded from US steel and aluminum tariffs but will go to the World Trade Organization to impose its own measures if Washington presses ahead, EU officials said yesterday.
The European Commission, which coordinates trade policy for the 28-nation EU, the world's biggest trading bloc, has said it is ready to impose safeguards, tariffs or quotas to protect its own steel and aluminium industries from products diverted to Europe because of the United States measures.
EU Commissioner Cecilia Malmstrom, who coordinates policy for the world's biggest trading bloc, said she shared U.S. concerns about over-capacity in the steel sector but did not believe in tariffs as a way to solve the problem.
Separately, Germany's transatlantic coordinator, Juergen Hardt, told Reuters the USA government should have exempted its European allies from punitive tariffs imposed against steel and aluminium imports that were primarily aimed at China.
European Union Trade Commissioner Cecilia Malmstrom will host her US and Japanese counterparts in Brussels on Saturday, with impending USA tariffs on metal imports set to dominate talks. Key U.S. trading partners and businesses have warned the tariffs could backfire, provoking a trade war and hurting allies more than China, their main target. He was apparently referring to the European Union threats of retaliation. The meeting has been scheduled amid fears the tariffs could elicit trade war between USA and its allies. He said Canada and Mexico are exempt for now, and other countries could be spared if they can convince the administration that their steel and aluminum exports don't threaten American industry.
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"We have been very clear that (the USA decision) is not in compliance with the WTO, so we will go to the WTO, possibly with some other friends".
The EU insists that it is committed to open, global trade.
"We are friends. We are allies".
The EU exported about 5.5 million tons of steel to the USA previous year.
Foreign steel producers are not only concerned about losing access to the US market but also that steel from other exporters will flood already saturated markets, threatening jobs elsewhere.
Malmstrom warned the Trump administration against considering metal-tariff exemptions for only some European Union countries such as the United Kingdom.
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