AISI Lauded U.S.-EU Joint Statement on Steel Trade

SEATTLE (Scrap Monster): The American Iron and Steel Institute (AISI) issued statement welcoming the U.S. administration’s renews commitment to ensure long-term viability of the U.S. steel industry and address global excess steel capacity. This was in response to the recent joint statement by the U.S. and EU.

AISI noted that the challenges facing the steel industry could be addressed effectively only by implementation of new and effective measures to abolish government subsidies and other market distorting policies in several countries. The country needs to maintain strong and effective trade measures to prevent surges in steel imports from countries across the world, it noted.

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The Institute also welcomed passage of infrastructure bills, stating that these could spur economic growth and create jobs in the country. The bill could lead to significant investments in national infrastructure systems, including roads and bridges. The recommendation to expand the use of Buy America requirements for steel in federal infrastructure projects will provide renewed boost to domestic steel sector.

AISI also welcomed the passage of Water Quality Protection and Job Creation Act of 2021, which insists that steel products used in key wastewater infrastructure projects are made in the U.S.