U.S., Japan steel deal includes focus on overcapacity, carbon intensity

Japan will take “concrete actions” to tackle excess steel capacity and carbon intensity as part of a deal with the U.S. to resolve a three-year steel tariff dispute, a senior Commerce Department official said on Monday, pointing to Japan’s commitments to coordinate with the U.S. on trade remedies and to implement domestic measures to ensure more “market-oriented conditions.” U.S. and Japanese officials on Monday reached a tariff-rate quota deal to end 25 percent steel tariffs imposed by the Trump administration...