Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), applauded remarks presented by US Trade Representative (USTR) Jamieson Greer at the Global Steel Forum on Excess Capacity (GFSEC) ministerial meeting, which took place in South Africa earlier today
“Addressing the massive global excess capacity in steel, which is driven by foreign government industrial-targeting, subsidies and other market-distorting interventions, is one of the most critical issues facing the American steel industry today,” Dempsey said. “This excess capacity is fueling a surge in Chinese steel exports that is very damaging to steel producers around the world, causing trade diversion and fueling transshipment through third-country markets.”
AISI believes that existing international trade rules are inadequate to discipline the policies and practices that have caused the global steel crisis and action should be taken to address more fully excess capacity in the steel sector and its impacts on steel producers and workers in many regions of the world.