Spain’s Unesid calls for clarification on EU-US trade agreement

The Spanish steel association Unesid has called for clarification on the trade agreement between the European Union and the United States, El Conciso reports.

The association believes that the agreement reached by the parties continues to harm Spanish companies, as the 50% tariff on steel imports to the United States remains in force.

“The agreement could be a positive step if it confirms the preservation of historical steel export volumes without tariffs and the introduction of an effective system to curb excess capacity at the global level,” Unesid said in a statement released earlier this week.

The lack of clarity continues to create uncertainty for both the European and Spanish steel industries, the industry association said. It is extremely important to urgently understand the specific details, in particular whether a zero tariff will apply within the quota and what the consequences of a 50% duty outside the quota will be.

Unesid also expressed concern about the 15% tariff on steel products, particularly vehicles, which could jeopardize key industrial exports.

The association called on the Spanish government to introduce temporary aid for companies most affected by the new tariff system. The country’s steelmakers will continue to monitor the progress of the agreement and will cooperate with the Spanish and European authorities to ensure the competitiveness of the steel sector is protected.

Earlier, EU steelmakers criticized the trade agreement with the US. The industry demands fair trade conditions and protection from excessive imports. Tariffs on steel, aluminum, and copper remained unchanged at 50%. The parties agreed that they would be replaced by a quota system, which will be agreed upon later.