German Finance Minister Lars Klingbeil is set to push for the inclusion of a steel export quota system in the European Union’s trade agreement with the United States during a meeting with U.S. Treasury Secretary Scott Bessent on Monday. Speaking to Deutschlandfunk radio ahead of the visit, Klingbeil emphasised the importance of steel to the German economy and workforce. “There is talk of a quota system for steel, and it would be good if there were one,” he stated.
While trade negotiations fall under the EU’s remit, Klingbeil said he intends to gauge the U.S. government’s openness to compromise and explore potential solutions. He noted that several chapters of the trade deal remain unresolved, with steel being a key area of concern.
The EU’s provisional trade deal with the U.S., reached during former President Donald Trump’s administration, imposed tariffs of 15% on most products. However, negotiations are ongoing for critical sectors such as steel and aluminium, which currently face tariffs as high as 50%.
German Chancellor Friedrich Merz confirmed on Friday that upcoming talks will focus on setting export quotas that would allow steel to enter the U.S. market without prohibitive duties. Klingbeil also called for swift resolution of other outstanding trade issues, including EU investment commitments and energy sector cooperation, saying progress is expected within days.
