SMA Statement on U.S. and EU Announcement on Steel Overcapacity

Washington, DC – Steel Manufacturers Association (SMA), president, Philip K. Bell, released the following statement in response to U.S. Trade Representative, Katherine Tai, and Secretary of Commerce, Gina Raimondo, announcing the start of discussions between the European Union (EU) and the United States to address global steel excess capacity:

“The SMA applauds today’s announcement by the Office of the United States Trade Representative and the Department of Commerce saying discussions with EU representatives will begin to address global excess steel capacity. We are pleased to see the administration and the EU taking a solution-focused approach to deal with this serious problem and prevent the escalation of tariffs between our allies. These conversations must be rooted in specific resolutions to reduce excess capacity, market-distorting practices, subsidies and state-owned enterprises that impact global trade.  This is a good preliminary step. Finding a satisfactory path forward will require enormous effort, patience and openness. I am optimistic that we can make progress.”

Bell added, “the SMA fully endorses this timely effort. As advocates for American steelmakers, who are the most sustainable steel producers in the world, SMA looks forward to working with the administration, USW and domestic and international groups to ensure our trade policies promote free and fair trade.”