U.S, EU weigh tariffs on Chinese steel, aluminum, Bloomberg says

The U.S. and EU are considering new tariffs on Chinese steel and aluminum as part of efforts to combat carbon emissions and global overcapacity, Bloomberg’s Jenny Leonard, Alberto Nardelli, and Jorge Valero report, citing people familiar with the matter. The move would present a novel approach, as the U.S. and EU would aim to use such duties to further a climate agenda as opposed to trade conflicts, the authors note. Publicly traded companies in the space include AK Steel (AKS), ArcelorMittal (MT), Nucor (NUE), Steel Dynamics (STLD), TimkenSteel (TMST) and U.S. Steel (X).