AISI Praised Initiative for Talks on Steel Overcapacity

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) commented on the recent announcement by the U.S. Trade Representative (USTR) and Secretary of Commerce in connection with the plans to begin discussions with the European Union (EU) in addressing global steel and aluminum excess capacity.

In a statement, Kevin Dempsey, president and CEO, AISI said that it appreciates the announcement that USTR and the Department of Commerce will be working with their EU counterparts to address the issue of global steel excess capacity. It must be noted that excess capacity has adversely impacted the American steel industry for several years now, Dempsey added.

AISI declared that it is grateful for the administration’s commitment to addressing this crisis. The surges in imports have been reported from every region of the world. However, China continues to be the single largest source of global steel oversupply, subsidies and other market distorting policies.

The AISI statement noted that it looks forward to work in partnership with the U.S. administration, the United Steelworkers and industry partners to guarantee the resilience of the American steel industry.

YOU MAY ALSO BE INTERESTED IN:

AISI Applauded New Bill to Clamp Down on Trade Cheating

AISI Foresees 8% Dip in 2021 Finished Steel Imports