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SMA Statement on Presidential Proclamation to Extend EU’s Steel TRQs

WASHINGTON — Philip K. Bell, president of the Steel Manufacturers Association (SMA), issued the following statement after today’s formal proclamation by President Joseph R. Biden to extend the U.S. tariff-rate quotas (TRQs) on steel:

“The SMA is pleased to see the formalization of the agreement by the U.S. and the E.U. to extend the steel TRQs and suspend retaliatory tariffs into 2025. Today’s proclamation sets the stage for continued discussions on the proposed Global Arrangement on Sustainable Steel and Aluminum. SMA supports the U.S. government’s solution-focused approach toward an agreement that addresses both non-market excess capacity and reducing carbon emissions from around the world.”