EU to warn against U.S. expanding scope of steel tariffs, Bloomberg reports

Officials in the EU are worried that a U.S. plan to broaden tariffs on EU steel and aluminum could undermine the spirit of their recent trade agreement, particularly the 15% tariff ceiling, Bloomberg’s Alberto Nardelli and Jorge Valero report. The EU is advocating for a quota system to allow some exports at lower duties and seeks collaboration with the U.S. and other partners to manage imports and prevent market flooding. Publicly traded companies in the space include ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X).