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Trade steer is using a merchant to use your trade power in a node to steer that trade towards your home node.

Transfer trade power is a diplomatic action where the target country gives you some of their trade power. Of which you still need to be steering or collecting to make use of said trade power. Otherwise it’s useless.
 
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The Norman Yoke

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steer trade/transfer trade power, what is the difference plz?

looks easier to steer trade etc.
Steer trade makes them direct trade to your nodes, transfer trade power gives their trade power to you in nodes you both have trade power in
Trade steer is using a merchant to use your trade power in a node to steer that trade towards your home node.

Transfer trade power is a diplomatic action where the target country gives you some of their trade power. Of which you still need to be steering or collecting to make use of said trade power. Otherwise it’s useless.
Transfer and trade can both be got via the diplo menu or part of a peace deal.
 
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