Why EU commerce ministers are unlikely to unravel metal business’s tariff woes

Good morning. Right this moment, our commerce and atmosphere workforce report on the metal business’s tariff woes and our Rome colleagues unpack the Winter Olympics’ Italian quirks.

I’m away snowboarding subsequent week so Laura will probably be operating the present. Have an awesome weekend and see you in March.

Stopping the metal

EU metal exports to the US fell by virtually a 3rd as US tariffs started to chunk, however it’s unlikely that commerce ministers assembly immediately will give the business a reprieve, write Andy Bounds and Alice Hancock.

Context: The EU and the US sealed a commerce settlement final summer time, however metal and aluminium weren’t included within the deal which lowered tariffs on most EU exports to fifteen per cent.

Eurostat knowledge reveals that exports of metal from the EU to the US fell by virtually a 3rd previously six months of final yr, in contrast with the identical interval in 2024, after the US hit them with tariffs of fifty per cent.

The “blunt 50 per cent tariffs . . . are damaging our industry,” mentioned Axel Eggert, director-general of the metal business physique Eurofer. He added that the business remained in limbo after the commerce deal, which solely dedicated the 2 sides to “consider the possibility” of lowering metal tariffs.

The EU has moved to guard its business by imposing 50 per cent tariffs on all metal imports above a sure quota, together with from the US. However this has not satisfied the US to return again to the negotiating desk because it doesn’t export a lot steel to the EU.

The European business’s pleas are nonetheless prone to fall on deaf ears amongst EU commerce ministers assembly in Cyprus immediately. The US isn’t even formally on the agenda, which as a substitute focuses on WTO reform, China and ongoing bilateral commerce talks with the likes of Australia and the Philippines.

Even the European parliament, which has taken a extra muscular strategy to Washington than member states and the Fee, is simply providing delicate help.

“The EU agreed 50 per cent on steel and we have to keep to our agreements,” mentioned Bernd Lange, chair of the parliament’s commerce committee.

The committee has nonetheless proposed tackling one other US levy of fifty per cent on by-product metal and aluminium items — akin to components of washing machines or motorbikes — which lawmakers consider breaches the phrases of the deal.

If these will not be eliminated inside six months of the EU ratifying the settlement, prone to occur in Could, the parliament needs to boost the EU’s tariffs on US metal once more. Lange believes member states would again the clause.

Chart du jour: Shitstorm

The Netherlands has virtually as many cattle as individuals, and the pressure on nature is displaying. However limits on utilizing manure as fertiliser have sparked protests which are convulsing Dutch politics.

Different facet of the medal

The Winter Olympics wrap up this weekend and host nation Italy has had a bumper version on the snow and ice. However the Video games have nonetheless generated loads of home controversies, write Amy Kazmin and Giuliana Ricozzi.

Context: Over the previous two weeks, 2,900 athletes from greater than 90 nations have competed in over 100 occasions, from determine skating to ski-mountaineering. Italy has had its finest Winter Olympics ever, at present coming in third within the medal tally.

However not everybody carried out effectively. Public broadcaster Rai yesterday introduced the resignation of Paolo Petrecca as head of Rai Sport, after repeated blunders whereas narrating the stay Olympics opening ceremony.

His errors included wrongly naming the stadium, mistaking an Italian actress for international famous person Mariah Carey and failing to recognise gamers from Italy’s gold medal-winning ladies’s volleyball workforce. Rai employees had threatened industrial motion except he stood down.

The Worldwide Paralympic Committee’s ruling that athletes from Russia and Belarus might take part within the opening ceremony of the upcoming Paralympics carrying their nationwide flags additionally uncovered tensions inside Italy’s governing coalition.

Italian international minister Antonio Tajani and sports activities minister Andrea Abodi expressed Rome’s “absolute opposition’‘ to the ruling, given the ongoing military aggression in Ukraine. But deputy prime minister Matteo Salvini’s pro-Russian League hailed the decision as “positive news”.

Italy’s Olympic organising committee additionally got here underneath hearth for less than offering 10,000 free condoms within the Olympic Village. Branded with Olympic rings, they ran out after simply three days.

The organising committee mentioned that “higher than anticipated demand” led to shares being depleted. Critics nonetheless famous that the quantity initially out there had been only a fraction of the 300,000 condoms reported distributed through the Paris Summer time Olympics.

What to look at immediately

1. Defence ministers from France, Germany, Italy, the UK and Poland meet for E5 summit in Krakow, along with EU chief diplomat Kaja Kallas.

2. Casual assembly of EU commerce ministers in Nicosia.

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