AISI Urges U.S. Treasury Secretary Geithner and USTR Kirk to Press China Currency Concerns at WTO Seminar

AISI Logo Hypocycloid

 

 

For Immediate Release
March 12, 2012

Washington, D.C. – In a letter focused on China currency concerns sent to Treasury Secretary Timothy Geithner and United States Trade Representative (USTR) Ron Kirk, the American Iron and Steel Institute (AISI) urged the United States to more aggressively pressure China for currency reform during the March 27-28 World Trade Organization (WTO) seminar in Geneva that will focus on the role of exchange rate practices in international trade. 

The seminar, hosted by the WTO Working Group on Trade, Debt and Finance, will provide “another major opportunity for the U.S. and other concerned governments to press China to end its large and sustained interventions in foreign exchange markets, interventions that have made the Chinese currency the most severely undervalued major currency in the world,” the letter stated.  AISI urges “the U.S. and other concerned governments to take full advantage of the opportunity created by the WTO seminar to increase the pressure on China to end its currency undervaluation policies.” 

Click here to read the full letter.  (PDF)

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 25 member companies, including integrated and electric furnace steelmakers, and 120 associate and affiliate members who are suppliers to or customers of the steel industry.  AISI's member companies represent over three-quarters 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.                                                                                 

Contant Nancy Gravatt
202.452.7115 / ngravatt@steel.org

Click here for a PDF version of this press release.