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April 4, 2016

MSCI Joins Manufacturers For Trade Enforcement Coalition

The Metals Service Center Institute announced last Monday that it has joined the Manufacturers for Trade Enforcement (MTE) coalition. 

The U.S. and Canadian steel markets have faced significant challenges in 2015 and 2016 due to China dumping its steel into North America at a price lower than local production costs. What's worse, some argue the World Trade Organization must treat China’s a market economy beginning in late 2016, which would make it even more difficult to remedy injury from dumping. 

By joining the Manufacturers for Trade Enforcement coalition, MSCI stands up to such unfair trade practices. 

“As a nation and as an industry we must embrace the benefits of international trade,” said MSCI President & CEO M. Robert Weidner, III. “But our nation's leaders must also ensure our trading partners play by an established set of international rules, including rules about currency manipulation.” 

The growing concern among leaders in the metals industry is that naming China a market economy would give the nation even less accountability to play by the rules. “Not only must policymakers foster strategic trading relationships, they must also allow for expedient and efficient legal action when partners violate the rules,” Weidner said. “Today we join with the National Alliance for American Manufacturing, the Aluminum Association, the American Iron and Steel Institute, and numerous other trade associations who also believe we must stop China from achieving market economy status.”