Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), has issued a statement 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 aluminum excess capacity.
“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,” Mr. Dempsey said.