Report: OECD steel meeting slips again

The Organization for Economic Cooperation and Development (OECD) has postponed high-level meetings on steel subsidies to June 28-29 from June 17-18, Inside US Trade cited unnamed sources as saying. US and European Union (EU) sources attributed the delay to scheduling difficulties, while a developing country official said the move shows negotiators are in "crisis resolution mode," the trade publication said. The US and EU are reportedly at odds over what subsidies should be permitted under an eventual agreement. Further, negotiators have not discussed possible penalties to give teeth to trade remedy measures. The OECD previously delayed talks to June 17-18 from May 11-12 due to "sticking points" in negotiations, BNamericas reported in April. The OECD groups 30 member countries, including Mexico and the US, in an effort to develop internationally agreed-upon recommendations and decisions on economic and social issues. Talks are aimed at reducing steel subsidies.