AISI Commends Senators Brown, Snowe For Urging Senate Leadership To Pass Currency Reform Legislation During Lame Duck

Washington, D.C., 11/29/2010 - The American Iron and Steel Institute (AISI) commended Senators Sherrod Brown (D-OH) and Olympia Snowe (R-ME) for urging the Senate Leadership to schedule a vote before the 111th Congress adjourns on legislation to address China’s unlawful practice of currency manipulation.  

“The steel industry is greatly appreciative of the strong leadership displayed by Senators Brown and Snowe in calling for urgently-needed action on currency reform,” AISI President and CEO Thomas J. Gibson, said.  “This action is a necessary step in addressing China’s currency undervaluation, which continues to take its toll on American jobs and American competitiveness.”

In their letter to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell, Sens. Brown and Snowe wrote that, “Currency manipulation is undermining the ability of American companies to compete in the global marketplace and hire American workers.  It is in the national interest to address this issue before the Senate adjourns.”

AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice.  AISI also plays a lead role in the development and application of new steels and steelmaking technology.  AISI is comprised of 24 member companies, including integrated and electric furnace steelmakers, and 140 associate and affiliate members who are suppliers to or customers of the steel industry.  AISI's member companies represent approximately 80 percent of both U.S. and North American steel capacity.  For more news about steel and its applications, view AISI’s Web site at www.steel.org.

Contact:
Nancy Gravatt
Vice President, Communications
American Iron and Steel Institute
Tel: 202.452.7115