Market Segment
Dan DiMicco: Stop Blocking Our Efforts to Hold China Accountable
Written by John Packard
May 20, 2014
It is well known that Dan DiMicco, the former CEO of Nucor Steel, has been an advocate of holding the Chinese steel mills to tougher standards. He has been opposed to imports of Chinese steel into the United States since most of the industry is government controlled and, in his opinion, unfairly traded.
In light of the allegations just made by the U.S. Department of Justice against the Chinese military for spying on U.S. companies, including U.S. Steel and the United Steelworkers, Steel Market Update approached Mr. DiMicco for comments.
First, we asked Mr. DiMicco, is he surprised that the Chinese government is being accused of spying on private U.S. companies and, in particular, steel companies?
Dan DiMicco: “Absolutely not! It is an epidemic!”
We wanted to know what “secrets” could be of interest to the Chinese at US Steel and the USW?
Dan DiMicco: “In this particular case their strategy on dumping cases against China and others. They have also hacked the law firms representing the steel companies!”
We asked Mr. DiMicco, what impact these charges might have regarding potential dumping suits on Chinese steel?
Dan DiMicco: “It should drive much greater scrutiny and success in our cases and the best things would be to put in place a proactive and punitive action against the Chinese and to finally declare them the trade cheaters that they are with a positive finding/ruling of Currency Manipulation.”
SMU asked what should companies involved in the steel industry do to protect themselves against Chinese spying?
Dan DiMicco: “Work with the FBI as we have and put their best protections in place and monitor.”
We asked if this is a wake-up call for American companies to bring back their manufacturing operations to the United States?
Dan DiMicco: “Absolutely! But the reality is China has already done so much damage to American businesses like Boeing and the Steel industry that we will be disadvantaged for some time. It’s way past time for the ‘American’ multinationals to stop blocking our efforts to hold China accountable and for our Government to do what is right for the American Middle Class, American workers, and the future generations of Americans. We have been in a massive Trade and Economic War with China for 15 years and we have yet to show up to the fight…sound familiar!
He then sent us an article written by the Wall Street Journal entitled, “Indicting China’s Hackers” we have provided you a link to the article for your review.
John Packard
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