AISI Welcomes US & EU Announcement on Steel Overcapacity
Steel OvercapacitySCMP

AISI Welcomes US & EU Announcement on Steel Overcapacity

American Iron and Steel Institute President & CEO Mr Kevin Dempsey, in response to an announcement by the US Trade Representative and Secretary

American Iron and Steel Institute President & CEO Mr Kevin Dempsey, in response to an announcement by the US Trade Representative and Secretary of Commerce regarding plans to begin bilateral discussions with the European Union to address global steel and aluminium excess capacity, said “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. 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.”

He said “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. Achieving an agreement that produces real results for our industry will take time and will not be easy. However, I am hopeful that the US government can work with the EU toward substantive solutions to the global overcapacity crisis in steel while maintaining the necessary trade measures to prevent surges in steel imports that could quickly undermine the US industry and our national security.”

He added “We look forward to working in partnership with the Biden administration, the United Steelworkers and our industry partners to ensure the American steel industry and its workers remain a vital part of the American economy and a key contributor to our national security.”

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