German Finance Chief Plans to Ask Bessent About Quotas for Steel

(Bloomberg) – German Finance Minister Lars Klingbeil plans to reveal quota problems for European steel when he meets the US counterpart Scott Bessent.

Kling Klingbeil told journalists in Washington on Monday, and said, “There are exactly indications that there may be a quota system in the steel industry – exceptions on both sides of the Atlantic.” “This will be important for the German steel industry and many jobs in Germany, and it is one of the issues I will deal with today.”

A US-European trade agreement adopted last month will increase the duties of most imports from the block to 15%. Brussels received a partial waiver in some sector-specific US tariffs, such as steel and aluminum, such as steel and aluminum, such as exemption containing quotas, such as otomobils worldwide-otomobils.

Klingbeil, “I think we were very weak, we can not be satisfied with the result,” he said. “We Europeans must be stronger, focus on the domestic market, and make sure we are difficult to consider. Then we can resist the USA, not against the US, but with more self -confidence in dialogue with the United States.

Nevertheless, he added that an agreement means that the uncertainties of recent months have been abolished and now there is a security planning for companies on both sides of the Atlantic.

Klingbeil, who is also the vice president of his country, is in the United States with the invitation of Treasury Secretary Bessi, whom he met in seven meeting groups in Banff, Canada in May.

“I hope it will help us clarify the close relationship problems between myself and Scott Bessent, and better understand the situation,” he said. “This will lead to logical solutions for the benefit of the German economy.”

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