WASHINGTON, D.C. – The American Iron and Steel Institute (AISI) this afternoon commended the formation of a Global Forum on Steel Excess Capacity, which launched its first meeting yesterday in Berlin.
Thomas J. Gibson, AISI president and CEO, said, “We are pleased that this important Global Forum began its work yesterday, and especially appreciate the leadership and commitment of the U.S. government representatives to address the global steel overcapacity crisis and the market-distorting policies and practices that have enabled it. The high levels of unfairly traded steel imports in the U.S., and the massive build-up in steel capacity in other countries that fuels it, are the most critical issues facing the steel industry today. We look forward to the Global Forum continuing to engage key countries in a cooperative effort to help level the playing field for the North American steel industry.”
The formation of the Global Forum was agreed to by the G20 leaders at the Hangzhou Summit in September 2016. It brings together more than 30 economies – all G20 members plus interested OECD members. For more information, a link to the U.S. government news release today can be found here.
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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 19 member companies, including integrated and electric furnace steelmakers, and approximately 120 associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI's website at www.steel.org. Follow AISI on Facebook or Twitter (@AISISteel).