In an effort to combat carbon emissions and global overcapacity, the US and EU are considering new tariffs on Chinese steel and aluminum. US and EU are likely to impose tariffs, usually used in trade disputes, to advance their climate change goals.

It was understood that the idea was generated within President Joe Biden's administration but hasn't been formally proposed yet. The EU and the US are unlikely to reach an agreement, including details on how to impose tariffs, until late next year at the earliest.