Mr Longhi of US Steel press to halt unfair trade practices in South Korean OCTG hearing
United
States Steel Corporation President and CEO Mr Mario Longhi joined
fellow steel industry executives and Mr Leo Gerard, international
president of the United Steelworkers, in pressing Congress to maintain
America's economic and national security by halting unfair trade
practices and enforcing the country's trade laws.
Mr
Longhi testified before the Congressional Steel Caucus about illegal
dumping of steel tubular products by South Korea and urges an end to
unfair trade practices.
While
testifying before the Congressional Steel Caucus, Mr Longhi emphasized
that the “Issue of fair trade is a matter of utmost importance to our
employees, our company, our industry and our country."
He
said “US Steel's domestic position in the tubular market makes the
alarmingly rapid and intense surge of imported OCTG products into the
market to be of particular concern. OCTG products are integral to the
building and maintenance of our nation's critical infrastructure and
must meet the highest safety and quality standards.”
He
went on to state that "The evidence in this case clearly shows that
OCTG products are being illegally dumped in what remains the most open
and attractive market in the world at prices below fair value and in
ways designed to circumvent our trade laws."
Mr
Longhi made the point to discuss the on-going trade case that U. S.
Steel and others have brought before the Department of Commerce, the
importance of ending the illegal dumping of OCTG products and the recent
zero-margin preliminary decision in the case. He said "We are
disappointed that the Department of Commerce failed to recognize and
punish illegal South Korean dumping The government's meaningful
investigative work is typically performed during the final phase of the
case - and that phase is now underway."
Noting
the "dire consequences that lie in wait for the American steel
industry, and for the jobs of thousands of middle class workers," Mr
Longhi re-emphasized the need for swift action by official Washington on
this trade issue by stating "We rely on you, our government, to enforce
these rules and punish the rule breakers…all we ask is for a level
playing field - the one our trade laws promised we would have."
Source - Strategic Research Institute, Steel Guru
