Cuts deal fails to end steel’s war of words

At the High-Level Meeting on Steel convened by the Organisation for Economic Co-operation and Development (OECD) in Paris on 17-18 December 2001 the European Union and the United States were among those which signed up to an outline agreement committing governments to capacity cuts in the steel industry by 2010. However, EU representatives said the agreement would be worthless if the US proceeded in February 2002 with the threat of introducing tariffs on steel imports.