France says ready to discuss metals overcapacity with US once exempted from tariff hikes

PARIS: France said on Tuesday it agreed that there was an overcapacity problem in steel and aluminium, but it could only discuss the matter with the United States when it was assured that the EU would be permanently excluded from unilateral tariff rises.

"We agree that there is a problem of overcapacity in steel and aluminium. We are ready to work with the USA and other partners to deal with those issues, and to develop fast and appropriate solutions," a joint statement from the finance and foreign ministries said after the United States delayed a decision on imposing tariffs until June 1.

"But we can only do so serenely when we are certain that we will be excluded from a unilateral increase in tariffs on a permanent basis."