UPDATE 1-USTR Tai optimistic on EU tariff dispute, seeks steel alliance

By Reuters

U.S. Trade Representative Katherine Tai said on Thursday she was optimistic about resolving a dispute with the European Union over steel and aluminium tariffs, insisting that the solution also required a joint transatlantic effort to combat overcapacity. Former U.S. President Donald Trump imposed tariffs of 25% on steel and 10% on aluminium from the European Union, along with other economies such as China, India, Russia and Switzerland. The European Commission, which oversees EU trade policy, has agreed to suspend a planned increase in retaliatory duties until Dec. 1 and launch formal talks on addressing excess global capacity largely centred in China.

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