AISI Supports Overcapacity Talks
By Metal Center News Staff
on May 17, 2021
The United States Trade Representative and Secretary of Commerce jointly announced plans to begin bilateral discussions with the European Union to address global steel and aluminum excess capacity. The move was applauded by the American Iron and Steel Institute.
“We appreciate the announcement today that USTR and the Department of Commerce will be working with their EU counterparts to address the issue of global steel excess capacity, which has adversely impacted the American steel industry for many years,” said Kevin Dempsey, president and CEO of AISI. “We are grateful for the administration’s commitment to addressing this crisis, to preserving and improving measures to address unfair trade and to recognizing that the American steel industry is critical to our national and economic security.”
China’s dominant position in global production is obviously a source of concern in both industries, though Dempsey said the talks must expand to include all contributors to the production glut.
“To be successful, the bilateral discussions must take into account that, while China is the single largest source of global steel oversupply, subsidies and other market distorting policies in many countries are contributing to the overcapacity crisis —and that injurious surges in imports have come from every region of the world.”