Washington, DC — The climate crisis is the most important long-term challenge facing policymakers around the world. Steel and aluminum are among the biggest carbon-emitting industries and also support good union jobs. The Roosevelt Institute has long argued that an easy win in this fight would be for the US and the European Union (EU) to launch a joint initiative on carbon-intensive steel imports.
Yesterday, the US and the EU reached a trade truce on steel and aluminum that will allow the allies to remove tariffs on more than $10 billion of their exports each year. This deal advances on future climate challenges while also dealing with the current major one: global excess capacity in the steel sector.
In response to today’s news, Dr. Todd N. Tucker, Roosevelt Institute’s Director of Governance Studies and co-author of “Green Steel Deal” report had the following comment:
“This latest EU-US statement is a signal of what a foreign policy for the middle class looks like. American consumers are a valuable market, and access to them should be contingent on meeting high environmental and labor standards. The steel and aluminum industries offer high-quality, made in America, union jobs. Workers in Ohio, Pennsylvania, and beyond can supply the green materials the global economy needs to prosper, and our companies, labs, and universities can innovate the technology needed to green the industry around the world. This US-EU deal is a vital step in that process.”