USTR Tai: Deal with EU a “Strong Foundation,” But Much Work Remains 

Speaking at a steel industry gathering just two days after unveiling the historic trade deal she helped negotiate with the European Union, U.S. Trade Representative Katherine Tai described the progress made in steel trade and the challenges that still lie ahead in curbing global steel overcapacity. Following are her remarks today at the General Meeting of the American Iron and Steel Institute and the Steel Manufacturers Association in Washington:

“Last month, I participated in a Global Forum on Steel Excess Capacity Ministerial meeting, along with other trade ministers and leaders from various G20 and OECD countries. I noted that many of the challenges facing the sector have been exacerbated by the pandemic. But there are also structural imbalances – specifically excess capacity issues – that existed before the pandemic – and will persist if left unaddressed.