Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
German Chancellor Friedrich Merz has announced that the European Union will begin negotiations with the United States to establish steel export quotas, aiming to reduce high tariffs under the new transatlantic trade agreement.
Speaking in Saarbrücken, Merz confirmed that while most goods face a 15% tariff under the recent deal, steel and aluminium remain subject to 50% duties. The proposed quota system would allow a specified volume of steel exports to enter the U.S. market without facing these elevated tariffs.
Merz described the agreement as a "painful compromise" but emphasized the need to avoid escalating trade tensions. He warned that any breakdown in talks could harm European industries more than their American counterparts.
The negotiations will focus on finalizing quota volumes and terms, with the goal of safeguarding European steelmakers while maintaining stable trade relations with the U.S.
This move reflects broader efforts by the EU to protect its industrial base amid rising global protectionism and strategic trade shifts.
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