The American Iron and Steel Institute (AISI) reported Tuesday that representatives of five major NAFTA steel associations met with representatives of the Latin American Iron and Steel Association (ILAFA) last week to discuss policy issues regarding steel trade.
AISI reported that the NAFTA representatives -- AISI, Steel Manufacturers Association (SMA), Specialty Steel Industry of North America (SSINA), Canadian Steel Producers Association (CSPA) and Mexican Steel Producers Association (CANACERO) -- agreed with ILAFA to initiate a common work program consisting of the following points and principles:
- We support rules-based free trade in raw materials, steel and steel-containing goods.
- We support the elimination of government subsidies to steel and steel-related industries.
- We support market-based competition and private ownership of steel companies everywhere.
- We support an end to restrictions by governments on direct foreign investment in steel companies.
- We support effective national trade laws to counter trade-distorting practices by governments and producers -- in particular, in non-market economies.
- We are concerned about ongoing policies and market interventions by governments that have led to excess capacity and injurious surges of exports of steel and steel-containing goods to the Americas.
- We will keep each other, as well as our respective governments, informed, where appropriate, regarding bilateral steel policy dialogues with other governments and producers.