The 24-25 February meetings made progress, and participants hope to complete much of the work by September. While some serious issues need to be resolved to secure an agreement, “there is good will to remove differences,” said US Assistant Secretary of Commerce, Faryar Shirzad.
At a December meeting in Paris, senior government officials from major steel-producing economies agreed to reduce or eliminate trade-distorting steel subsidies. Those discussions indicated that the underlying situation in steel remains serious and that recent signs of recovery are fragile, as many firms continue to struggle to maintain or return to profitability.
©OECD Observer No 236, March 2003