Nov 20, 2020
AISI Highlights Top Priorities of Steel Industry
2020-11-25
SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) decided to put forth priorities of steel industry before U.S. President-elect Joe Biden. According to Kevin Dempsey, interim CEO, AISI, the top priorities for the industry include retention of section 232 tariffs on steel imports and passage of the infrastructure bill.
AISI does not expect a near-term change to the steel import tariffs implemented by Trump administration in March 2018, as now is not the time for such a move, especially in the midst of concerns about rising global overcapacity. Under current circumstances, it would be dangerous to lift the tariffs, he said. Incidentally, the steel trade body fears that the steel capacity-production gap may touch 700 million mt in 2020.
Dempsey urged the new administration to work closely with the industry in implementing strong trade enforcement actions in order to safeguard the domestic manufacturing industry. He noted that the association is in support of a cooperative approach to enforcement. Furthermore, AISI is hopeful that the administration would sanction meaningful infrastructure funding in the wake of the pandemic crisis, Dempsey added.
Earlier in May this year, Biden had said that, if voted to power, he would consider reviewing steel and aluminum tariffs, as well as other tariffs put in place by the Trump administration.
Source: Scrapmonster
