Washington, D.C. – Thomas J. Gibson, president and CEO of the American Iron and Steel Institute (AISI), issued the following statement this evening in response to the Commerce Department announcement of a proposed rulemaking to impose countervailing duties on countries that act to undervalue their currency:
“We applaud today’s strong and forceful action by the Commerce Department to penalize those countries that engage in the unfair trade practice of manipulating the value of their currencies to benefit their own exporters -- at the expense of U.S. manufacturers. Today’s announcement by Secretary Ross is a significant step by the Trump Administration to help triage the massive damage that undervalued currency is causing to our nation’s manufacturing sector, especially the steel industry.”
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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).