The American Iron and Steel Institute (AISI) called on the U.S. Congress to pass two bills that would apply countervailing duties (CVDs) to subsidized imports from non-market economies (NMEs), including China. The Stop Overseas Subsidies (SOS) Act counters growing pressure to weaken U.S. trade laws and dismantle existing anti-subsidy protection, according to AISI.
"In order to preserve and strengthen America's manufacturing base, Congress must address the subsidy problems in non-market economies, and apply CVD law to injurious imports from such economies," said Andrew G. Sharkey, III, president and CEO of AISI. "At a time of record U.S. trade deficits, we need to use every tool in our arsenal against dumped and subsidized imports. Other countries are applying CVD law to subsidized imports from China and other NMEs. The United States needs to stop fighting unfair trade with one hand tied behind its back."
The AISI applauded U.S. Senators Susan Collins (R-ME) and Evan Bayh (D-IN), and Representatives Phil English (R-PA), and Artur Davis (D-AL) for introducing "this vital legislation" in the Senate and House of Representatives, respectively. The Institute supports this and other legislation to enhance the effectiveness of existing U.S. trade laws, as well as "all efforts to prevent trade law weakening."
to Daily News