SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) applauded the introduction of bills in the House and Senate aimed at addressing unfair trade. It strengthens the U.S. trade remedy laws to crack down on unfair trade practices and encourage the effective use of enforcement tools to combat offenders of the laws.
The bill also targets “cross-border subsidization”, whereby foreign governments subsidize industries such as steel in other countries as well. For instance, Chinese steelmakers have been building steelmaking facilities in other Asian countries like Indonesia and Vietnam, from where it exports steel to the U.S. market.
The bipartisan legislation titled “Leveling the Playing Field Act 2.0” was introduced in the Senate by Senators Sherrod Brown (D-OH) and Todd Young (R-IN) and by Reps. Bill Johnson (R-OH) and Terri Sewell (D-AL) in the House.
Kevin Dempsey, President and CEO, AISI noted that the American steel industry has been facing repeated surges of unfairly traded steel imports in recent years, primarily due to dumped and subsidized imports from many countries and regions. This bill, by way of strengthening the effectiveness of the U.S. trade laws, will provide a level playing field for the American steel industry and thousands of its workers, he added.
AISI appreciated the continued leadership of Senators Brown and Young, and Representatives Johnson and Sewell and various co-sponsors of the bill.
YOU MAY ALSO BE INTERESTED IN:
Sell Your Junk Car for CashGet an instant quote for your car on ScrapMonster.com