New European steel plan hints settlement with US
The European Economic Community agreed Monday on a new offer to cut steel sales in America amid signs its bitter trade dispute with Washington may be close to settlement.
Diplomats said the 10 member states were ready to reduce their share of the US steel market to 5.8 percent for the next three years. They took a 6.4 percent share in 1981. The offer, which Industry Commissioner Etienne Davignon plans to take to Washington today (Aug. 3), met with a reasonably encouraging response in preliminary talks with US officials in Brussels over the weekend, the diplomats said. The US side had suggested a figure of 5.67 percent.