July 8, 2015
U.S. Steel Supports Trade Authority Bills
United States Steel Corp. President and CEO Mario Longhi praised Congress for its trade legislation giving President Obama the authority to negotiate trade agreements following passage of the Trade Promotion Authority and Trade Adjustment Assistance bills in June. He was also pleased with the bill’s ability to combat unfair trade practices.
"I applaud Congress for passing groundbreaking trade legislation, giving President Obama the authority to negotiate strong trade agreements and open new markets for American goods and services while protecting American manufacturing and American workers. The reauthorization of TAA, which supports displaced workers affected by unfair trade, also provides new language to ensure our trade laws confront unfair trade practices in the U.S. market. These legislative developments represent a victory for our efforts to level the playing field with countries who have taken advantage of our nation's trade laws for far too long,” Longhi says.
The legislation allows American manufacturers to seek timely relief under U.S. trade laws, he adds. "The TAA legislation clarifies the injury standard in dumping and countervailing duties cases, the interpretation and enforcement of which have been weakened and become a less-effective tool to counter 21st century trade practices mastered by foreign companies and governments. By the time 'injury' has occurred and can be demonstrated, our markets have already been flooded with unfairly traded goods leading to suppressed prices, plant closures and layoffs.”
Longhi’s sentiments were echoed by the American Iron and Steel Institute, the Washington-based trade group representing domestic steelmakers.