U.S., EU weigh climate-based tariffs on Chinese steel and aluminum -Bloomberg News

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(Reuters) - The U.S. and the European Union are weighing new tariffs on Chinese steel and aluminum as part of a bid to fight carbon emissions and global overcapacity, Bloomberg News reported on Monday, citing people familiar with the matter.


The idea floated within President Joe Biden's administration is still in an initial phase and hasn’t been formally proposed, the report said, adding that an agreement with the EU isn't likely until late next year at the earliest.

(Reporting by Akriti Sharma in Bengaluru Editing by Leslie Adler)

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