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Trump weighs 10 percent cut in EU steel, aluminium exports to U.S.- WSJ

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Trump weighs 10 percent cut in EU steel, aluminium exports to U.S.- WSJ
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(Reuters) – U.S. President Donald Trump is considering trade measures to cut EU steel and aluminium exports to the United States by about 10 percent, in a sign that Brussels’ concessions to secure tariff exemptions have not met White House demands, the Wall Street Journal said, citing EU officials familiar with the talks.

Washington proposed two options for the European Union, a quota fixed at 90 percent of U.S. imports from the bloc in 2017 and a tariff-rate quota that would target the same 10 percent reduction via levies, the Journal quoted Poland’s Entrepreneurship and Technology Minister Jadwiga Emilewicz as saying after EU governments discussed U.S. trade relations on Tuesday.

Trump has set tariffs of 25 percent on incoming steel and 10 percent on aluminium on grounds of national security but has granted EU producers an exemption until June 1 pending the outcome of the talks.

EU proposals to open its markets wider to U.S. products, including cars, appear not to have persuaded Washington to lift the threat of import tariffs on EU steel and aluminium, the EU Trade Commissioner Cecilia Malmstrom said earlier on Tuesday.

(Reporting by Ismail Shakil in Bengaluru; Editing by Gareth Jones)

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