The United States on Monday demanded that the European Union make its regulation of the tech sector more "balanced" in exchange for a reduction of U.S. tariffs on steel and aluminium imports from the bloc.

The European Union’s antitrust chief ruled out easing the bloc’s tech rulebook, after US Commerce Secretary Howard Lutnick said Brussels needed to change its digital regulations in order to get a deal to lower steel and aluminum tariffs.

India is considering extending an import tariff, locally known as a safeguard duty, on some steel products to counter cheaper imports primarily from China, according to a source with direct knowledge of the matter.

South Korea's steel manufacturers did not receive tariff relief and are hurting, as the deal with the United States excludes the steel sector.