The Trump administration’s latest offer to the EU to avoid section 232 duties on steel and aluminum would require a 10% cut in exports from the EU either through a quota or tariff-quotas. The EU already has retaliatory tariffs ready to go from June 20. A 10% would be worth $732 million, but comes against the backdrop of exports that expanded by 30% in 2017 vs. 2016, by 18% in the first quarter and while unchanged in April they were up 8% sequentially. The latter was due to a 39% jump in shipments from Italy. The offer won’t succeed given Commissioner Malmstrom has stated the EU will n...