There was a meeting in Washington, DC of trade officials from 23 steel-producing countries to continue the negotiations begun by the Paris-based Organization for Economic Cooperation and Development (OECD) on the elimination of steel subsidies. The goal is to finalize an agreement that essentially bans all subsidies with a few exceptions ? in the case of permanent closure and related labor and environmental adjustments. Still unresolved are what steel products would be covered in a subsidy agreement; the exact exemptions to be included; notification processes; and clearly defined prohibitions. Another problem is the fact that China is not part of this process, and yet is a major producer of steel. Already, 140 million tons have been addressed out of the 200 million that need to be eliminated. The talks must be completed by July which has been designated the last OECD meeting on steel capacity negotiations.
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