Germany vows to press for quick action to cut steel overcapacities

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© Reuters. FILE PHOTO: Minister for Economic Affairs and Energy Peter Altmaier delivers a statement after the weekly cabinet meeting in Berlin&Replicate; Reuters. FILE PHOTO: Minister for Financial Affairs and Energy Peter Altmaier provides a statement following the weekly cabinet meeting in Berlin

BERLIN (Reuters) – Germany will press for quick activity by a global steel forum to lessen overcapacities on earth economy, German Economy Minister Peter Altmaier mentioned on Wednesday, prior to a June 20 meeting by the Global Forum on Excess Steel Capacity in Paris.

Altmaier reported europe was currently discussing setting steel import quotas to protect against flood of steel on both German and European economies as a result of the U.S. determination to impose tariffs on steel and aluminum imports.

He said there has been likewise a chance that U.S. organizations would make an application for exemptions for his or her steel providers in Europe.

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