Steel Mills
Nucor Encourages Strong Trade Enforcement
Written by Sandy Williams
July 16, 2014
Rick Blume, Nucor General Manager, Commercial Steelmaking Group, testified on Wednesday before the U.S. Senate Committee on Appropriations on Homeland Security regarding trade remedy laws.
“Nucor relies on trade remedy laws to combat unfair trade practices of our foreign competitors, but we face many challenges in using these laws,” said Blume.
“First, we have to file and win a trade case. This is no easy task as cases are complex, burdensome, and notoriously slow. By the time a final determination is reached, the damage to a U.S. industry and its workers can be irreversible.”
“Our government agencies do not always respond adequately” to dumping and subsidized products said Blume, citing a Commerce Department finding that the Turkish government was giving producers energy subsidies but concluding that the subsidies had “no value.” A conclusion that Blume said “makes no sense, given the energy-intensive nature of steelmaking.”
Blume said Nucor strongly supports the Senate Customs reauthorization bill, S. 662. The legislation would require Customs to investigate industry allegations of evasion, establish reasonable timelines for action, and issue regular public reports disclosing results.
Nucor agrees with Customs that some changes in the duty collection system are warranted. “However,” said Blume, “we do not believe replacing the current ‘retrospective’ system with a so-called ‘prospective’ system would improve enforcement. The current retrospective system is the only accurate way to measure the actual amount of unfair trade and determine the appropriate relief. In contrast, a prospective system would allow abuse on a massive scale and weaken trade enforcement.”
Blume noted that Nucor is investing in the American economy through existing U.S. facilities and new ones like the direct reduced iron facility in St. James Parish, Louisiana.
“Nucor is doing its part to expand the economy and create jobs. We are relying on our government to back us up with strong trade enforcement.
Mr. Blume’s entire testimony may be accessed here.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.