AISI Issues Statement Regarding U.S. Treasury's Decision to Delay Naming China a Currency Manipulator

AISI Logo Hypocycloid

 

 

 

For Immediate Release
May 25, 2012

Washington, D.C.– AISI President and CEO Thomas J. Gibson issued the following statement regarding the Obama Administration’s announcement that it would not label China as a currency manipulator.

“AISI is disappointed that U.S. Treasury Secretary Timothy F. Geithner has once again side-stepped his obligation to address China’s currency manipulation,” AISI President and CEO Thomas J. Gibson stated.  “While we are encouraged that the Administration recognized that China greatly undervalues its currency, it has again missed an opportunity to use all of the tools available to it to address the massive damage that China’s severely undervalued currency is causing to our nation’s manufacturing sector.  Given the priority of job creation and our still fragile recovery, our government must take all necessary steps to ensure that American companies and workers are competing on a level playing field.” 

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 124 associate members who are suppliers to or customers of the steel industry.  AISI's member companies represent approximately 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.

Contact: Nancy Gravatt
202.452.7115 / ngravatt@steel.org

Click here for a PDF version of this press release.