U.S. hopeful of reaching deal with EU on steel tariffs by end-October -source

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U.S. Trade Representative Katherine Tai testifies earlier the Senate Finance Committee connected Capitol Hill successful Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS//File Photo

WASHINGTON, Oct 13 (Reuters) - The United States is hopeful it tin resoluteness its commercialized quality with the European Union implicit tariffs connected alloy and aluminum earlier the extremity of October, a root acquainted with the discussions said connected Wednesday.

U.S. Trade Representative Katherine Tai met connected Tuesday with EU commercialized main Valdis Dombrovskis, who past period told a Washington deliberation vessel that helium was "moderately optimistic" an statement could beryllium reached.

"We're hopeful we tin scope statement by the extremity of the month," the source, who spoke connected information of anonymity, told Reuters.

Spokespeople for the USTR and the EU declined remark connected the talks. The U.S. Commerce Department, which administers the "Section 232" tariffs of 25% connected alloy and 10% connected aluminum, did not instantly respond to a petition for comment.

On Tuesday, USTR said that Tai and Dombrovskis discussed "the ongoing efforts to code planetary overcapacity successful the alloy and aluminum sectors and shared challenges posed by non-market economies."

Tai and Dombrovskis agreed successful May to not escalate the quality implicit alloy and aluminum tariffs for six months successful bid to negociate a colony successful a truce that expires successful precocious November.

In June, they brokered an statement that halted a 17-year commercialized conflict implicit craft subsidies with a akin argument: the bigger menace facing some Europe and the United States comes from China's efforts to make its ain commercialized craft industry.

In the metals dispute, U.S. and European officials person agelong agreed that Chinese overproduction has weakened planetary prices.

Former U.S. President Donald Trump imposed tariffs connected alloy and aluminum imports, including connected imports from the EU, connected grounds of nationalist information nether a Cold War-era commercialized law.

A alloy manufacture root said Tai and the EU were edging person to a apt statement that would regenerate the Section 232 tariffs with a tariff-rate quota (TRQ) statement that would let duty-free introduction of a specified measurement of EU steel, with tariffs applied to higher volumes.

This idiosyncratic said that talks are "going well," but was reluctant to accidental that a woody would beryllium reached by Oct. 31.

Dombrovskis has expressed openness to a quota statement akin to those that Canada and Mexico person with the United States, but said a woody is needed by aboriginal November.

Other EU officials person told Reuters that overmuch depends connected the measurement of alloy allowed work escaped into U.S. ports.

The manufacture root said EU negotiators were seeking to basal the quota connected U.S. import volumes anterior to the imposition of the 232 tariffs successful 2018, portion U.S. negotiators privation to basal the quotas connected little volumes aft the tariffs were imposed.

Reporting by Andrea Shalal; Editing by Leslie Adler

Our Standards: The Thomson Reuters Trust Principles.

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