EU and US seek steel deal that may include tariffs on China exports

The provisional political agreement on the so-called Global Steel and Aluminum Arrangement is expected to be announced at an October 20 summit in Washington.

The European Union is working on an interim deal with the US that would introduce new tariffs aimed at excess steel production from China and other countries in order to end a Trump-era trade conflict.

The levies would primarily be focused on imports from China that benefit from non-market practices, Bloomberg reported earlier this month. The provisional political agreement on the so-called Global Steel and Aluminum Arrangement is expected to be announced at an October 20 summit in Washington, according to people familiar with the plans.