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The Trump administration is preparing to outline a tiered system for its broad tariffs on steel and aluminum products, according to sources.

The Middle East accounts for about 9% of global output of aluminum, used in airplanes, food packaging and solar panels.

Australia’s BlueScope Steel said a revised bid from Steel Dynamics and SGH undervalues the company, but it remains open to a better offer.

European Union officials believe the U.S. will soon streamline its broad tariffs on products containing steel and aluminum, a topic that’s been an irritant in transatlantic relations.

Steel Dynamics and SGH raised their all-cash bid for Australia’s BlueScope Steel in an effort to woo shareholders after the target rejected a previous offer.

U.S. Trade Representative Jamieson Greer signaled that the Trump administration is open to changing its tariffs on steel and aluminum amid pressure from business groups and trading partners.

Thyssenkrupp is in the midst of a broader streamlining program aimed at shedding legacy units and giving it more space to focus on higher-margin engineering and technology businesses. 

The decision is a blow to the ambitions of Steel Dynamics as it seeks to benefit from steep tariffs imposed by the Trump administration to shield U.S. producers.

Trump’s 50% tariffs on foreign steel “have fundamentally altered the competitive landscape and sharply limited our ability to access the U.S. market,” a spokeswoman said.

Nippon Steel is seeking a site capable of supporting a steel plant with 3 million tons of annual capacity. The plant will be run by the company’s U.S. Steel subsidiary.