Europe fears collateral damage if China and the US do not agree on the trade dispute. EU Commissioners criticize the US for failing to recognize efforts to reduce China's steel and aluminum exports.
Washington issued high punitive tariffs for the import of steel and aluminum in March, as the world market is overburdened by Chinese overproduction. Since then, Washington has temporarily suspended some countries, including the EU. But the EU demands a permanent solution.
But even then the EU fears a flooding of the world market with Chinese steel, since the USA barely participate in the world market after the imposition of punitive tariffs. Phil Hogan, EU Commissioner for Agriculture and Rural Development, calls on Washington to agree with China on the steel issue. Both the US and Europe accuse China's steel mills of flooding the world market with their cheap products.
The US's tactics of negotiation could unnecessarily escalate the trade dispute and other spades, such as agricultural damage, Hogan just before the second round of talks between senior US officials and China.It will also discuss the theft of intellectual property by China's economy and the protection of agriculture.
Hogan calls on China to allow beef from the EU after Ireland has already been approved. It is repeatedly criticized that China treats health certificates differently for all agricultural goods.
Text: HANSA Derivatives Trading GmbH /
