June 13, 2018 / 5:45 PM / in a year

Germany vows to press for quick action to cut steel overcapacities

BERLIN, June 13 (Reuters) - Germany will press for quick action by a global steel forum to reduce overcapacities in the world market, German Economy Minister Peter Altmaier said on Wednesday, ahead of a June 20 meeting by the Global Forum on Excess Steel Capacity in Paris.

Altmaier said the European Union was currently discussing setting steel import quotas to prevent a flood of steel on the German and European markets as a result of the U.S. decision to impose tariffs on steel and aluminium imports.

He said there was also a possibility that U.S. companies would apply for exemptions for their irreplaceable steel suppliers in Europe. (Reporting by Gernot Heller Writing by Andrea Shalal Editing by Victoria Bryan)

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