Industrial Metals Seeks Action from New President
Ashley DeVecht, director of communications, 847-485-3011 or 616-260-2785
Dianna Smoljan, 708-945-7405
Metals Service Center Institute:
Industrial Metals Seeking Bold Action from New President
Rolling Meadows, Ill., Jan. 20, 2017—As President Donald Trump took the oath of office today, the Metals Service Center Institute (MSCI) urged the new administration to take serious and immediate action to restore growth and to help the industrial metals supply chain fully recover from the lingering effects of the Great Recession and harmful government policy.
“I’m more hopeful today than I have been in a long time,” said M. Robert Weidner, III, president and CEO of MSCI. “But the industrial metals sector needs action now. On the campaign trail, President Trump made it clear that he understands that, despite a declining federal unemployment rate and a rising stock market, there are certain industries and communities that are still struggling. He emphasized many of the solutions that MSCI has outlined in its policy agenda. He did that again today, but now the real work begins. President Trump must work to immediately put his election promises into action.”
Service center aluminum shipments are still 20 percent below their pre-Great Recession peak and carbon steel shipments from service centers are still down 30 percent.
“The erosion in the U.S. industrial metals supply chain hurts our communities, erodes local, state, and federal tax revenue, and reduces the pool of well-paying U.S. jobs,” Weidner said. “We are pleased with the agenda the new president outlined today—specifically when it comes to protecting American jobs and American industry and rebuilding our infrastructure—and look forward to working with him and the entire Trump administration so that we can return growth to the industrial metals sector, and the U.S. economy as a whole.”
The U.S. industrial metals supply chain:
- Supports almost 2.5 million U.S. jobs;
- Is responsible for more than $500 billion in economic activity and 3.5 percent of U.S. GDP;
- Pays an average of more than $60,000 a year to metals industry workers; and
- Contributes more than $64 billion in taxes to local, state, and federal governments each year.
MSCI has outlined a comprehensive agenda on trade and currency manipulation; taxes and fiscal responsibility; regulations; energy, environment, and infrastructure; health care; and employment and labor policy for President Trump. That outline is available here. For more information on MSCI’s policy agenda, visit MSCI’s website.
Founded in 1909, the Metals Service Center Institute is a nonprofit association based in Rolling Meadows, Ill., serving the industrial metals supply chain. It serves more than 300 members in over 1,200 locations in North America. For more information, visit www.MSCI.org, MSCI’s online resource MSCI.org/Edge, like us on Facebook, follow us on Twitter, and connect with us on LinkedIn.