TRADE CASES HEADLINESTrade Cases
Nucor CEO Praises Trade Decision
Sep. 15, 2009 In a statement, Nucor Corp. Chairman, President and CEO Dan DiMicco praised President Obama and United States Trade Representative Ron Kirk for their decision to apply duties on imports of illegally subsidized Chinese tires.
AISI Comments on 421 Tire Case Decision
On behalf of its U.S. member companies, the American Iron and Steel Institute (AISI) also welcomed the President’s decision in the Section 421 (China import surge) trade case to impose a trade remedy on tires from China. The decision follows a previous determination by the independent, bipartisan International Trade Commission (ITC) that the subject imports have caused “market disruption” in the United States.
Without commenting on the specifics of the 421 tire case or on the remedy that has been imposed, AISI noted that:
“This marks the first time that a U.S. Administration has imposed a trade remedy in a Section 421 China surge case after the ITC has found market disruption and has recommended trade relief. America’s steel industry joins with many other U.S. manufacturing industries that have faced Chinese government industrial targeting, subsidies and export promotion policies in strong support of the position that our WTO-consistent Section 421 law must be a ‘live’ trade remedy statute — and a vital trade tool for U.S. industries and their workers — to address market disruption caused by damaging import surges from China.”
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"The Administration's strong action in the Chinese tire case is a victory for rules-based trade, American workers and manufacturers, and our overall economy," said DiMicco. “President Obama is setting a course for better and fairer trade between our two countries.
"The United States maintains the most open and accessible markets in the world,” continued DiMicco. “Failure to use remedies for violations of World Trade Organization (WTO) rules results in gross distortions in trade and our markets being abused by other governments, which is neither a healthy model for free trade nor a lasting approach to any trade relationship.
"Under WTO rules, the U.S. government can put temporary trade remedies in place to stop our markets from being abused. China aggressively uses currency manipulation, illegal subsidies and border adjusted taxes to drive their economy through exports while insulating their borders from imports. Through this decision, the Administration is sending a clear signal to China that it must end its mercantilist trade policy and live up to the rules they agreed to under the WTO for access to our markets.
"Ending unfair trade practices and restoring balance in our trade relationships are essential for meaningful and sustained economic recovery, ending America's job losses and creating the ten million plus jobs needed over the next five years," concluded DiMicco.
Headquartered in Charlotte, N.C., Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products include carbon and alloy steel bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through DJJ, one of the leading scrap companies in the U.S., also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.