Nucor CEO denounces unfair trade acts

Nucor CEO denounces unfair trade acts

Nucor CEO Daniel DiMicco is publicly calling on fellow manufacturers to take action and pressure the federal government to enforce fair trade laws. At an industry conference on September 19, Mr. DiMicco pointed out, “today it is roughly twenty percent more expensive to operate in the US than it is in most of our largest trading partners.” He said that foreign markets practice unfair trade acts, citing closed markets, subsidies, and currency manipulation as the major reason why American manufacturers are struggling. Mr. DiMicco is concerned about manufacturing jobs being outsourced overseas as well as “our excessive rate of corporate taxation, which is among the highest in the world.” He recommended that fellow companies contact government officials and get the message out: “trade is the ultimate good; it is this country's lifeblood. But it must be free of impediments to and penalties against American business.”