Home Scrap Metal Prices Price Regions US Scrap Metal Prices China Scrap Metal Prices India Scrap Metal Prices Europe Scrap Metal Prices Aluminum ScrapBrass/BronzeCopper ScrapCupro-NickelElectronics ScrapLead ScrapScrap Gold Prices (Hallmarked)Scrap Gold Prices (Non-Hallmarked)Stainless SteelSteelMarket News
EU discussing steel, chip, plane cooperation with US, trade chief says
Published by
ScrapPrices
Published on May 28,2025 05:00 AM Steel
The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic said on Wednesday.

DUBAI, May 28 (Reuters) - The European Commission is discussing with the United States possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals, European Trade Commissioner Maros Sefcovic said on Wednesday.

Sefcovic, in Dubai to launch free trade agreement negotiations with the United Arab Emirates, said he was talking to U.S. counterparts every other day in search of a deal to limit tariffs, with another call due on Thursday.

"What we are looking at first and foremost are all the tariff lines, what we can do there, how can we look from this new perspective for the market access?" he told a press conference.

Sefcovic said he was discussing with U.S. Secretary Howard Lutnick areas of possible transatlantic cooperation that would benefit both sides, naming aviation, semiconductors, steel and dependencies, notably for critical minerals.

"I'm absolutely convinced that the two largest trading partners on this planet ... just simply have to look for the best possible frame for trade, for investment," he said.

"And this is what we are currently working on. The intensity is great and I hope that this will bring us the results for the fair and balanced deal in the end," he said.

The European Commission, which oversees trade policy for the 27-nation EU, said it saw new impetus in trade talks with the United States this week after President Donald Trump dropped his threat to impose 50% tariffs on EU imports.

That followed Trump's call with Commission chief Ursula von der Leyen in which they agreed to fast track talks.

The EU wants to see an end to 25% tariffs on steel and cars and for Trump to drop his so-called "reciprocal" tariff, which was provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July.

Washington, however, is intent on reducing its goods trade deficit with the EU, which was almost 200 billion euros ($226 billion) last year, though it does have a sizeable, albeit smaller, trade surplus in services.

MORE STEEL NEWS
April 15,2026 06:00 AM
In January–March 2026, China reduced its steel exports by 9.9% year-on-year, to 24.71 million tons. This was reported by the China Iron and Steel Association (CISA), citing data from the customs service.
April 14,2026 12:00 PM
Steel demand in China is expected to decline by 1.5% in 2026 as the housing market correction nears its bottom. Infrastructure investment in the country is expected to increase this year thanks to efforts by local authorities to support GDP growth. Steel demand in the country’s manufacturing sector will maintain moderate growth in 2026 as exports continue to expand. However, a more challenging global trade environment remains a significant risk and could potentially slow growth in the coming years.
April 13,2026 08:00 AM
Japan's steel industry will experience a slow first quarter of the country's new fiscal year from April 1, with demand seen falling by 1.5% from April-June last year and steel production dipping by 0.7% year-on-year as well, according to a Ministry of Economy, Trade and Industry (METI) forecast released on April 9.