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AISI Applauds Senate Passage of USMCA

Steel News - Published on Fri, 17 Jan 2020

Image Source: steelguru.com
After US Senate passing, by a vote of 89-10, of legislation implementing the United States-Mexico-Canada Agreement, the American Iron and Steel Institute president and CEO Mr Thomas J Gibson said “Today’s passage of USMCA in the Senate is great news for steelmakers, our workers and our customers. It will help create jobs and foster investment in manufacturing, building upon the success of NAFTA. For the steel industry specifically, the USMCA improves upon the original NAFTA by strengthening the rules of origin for steel-intensive goods, incentivizing the use of North American steel in manufactured goods and bolstering our manufacturing supply chains with customers in the automotive, auto parts, pipe and tube, and machinery industries, among others. Nearly 90 percent of US steel mill product exports go to Canada and Mexico, so securing those markets for our exports is critical for American steelmakers.”

He said “The USMCA also will benefit the steel industry by promoting increased cooperation and information sharing among the North American governments to address circumvention and evasion of trade remedy orders. These measures will help the steel industries of our three countries continue to work together to address the repeated surges of dumped and subsidized steel imports that have plagued the North American market in recent years.”

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Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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