MSCI Stands Up to Chinese Steel: Joins “Manufacturers for Trade Enforcement” Coalition
MSCI Stands Up to Chinese Steel:
Joins “Manufacturers for Trade Enforcement” Coalition
Rolling Meadows, Ill. —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 thanlocal production costs. What's worse, some argue the World Trade Organization must treat Chinaas a market economy beginning in late 2016, which would makeit even more difficult to remedy injury from dumping. By joining theManufacturers for Trade Enforcement Coalition today, 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 aboutcurrency manipulation.” But 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 mustalso allow for expedient and efficient legal action when partners violate the rules,” Weidner said. “Today we join with the National Alliance for AmericanManufacturing, 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.”
Astudyshows the American metals industry accounts for nearly 2.5 million jobs and contributes more than $552 billion or over 3.5 percent of the nation’s gross domestic product.”As a group, we aren't simplyfighting for the future of our industry—we're fighting for the thousands of lives that depend on jobs in metals mills and service centers across North America,” Weidner said.
Founded in 1909, the Metals Service Center Institute is a non-profit association based in Rolling Meadows, Ill., serving the metals industry. It serves members in more than 2,400 locations in the United States, Canada, Mexico and throughout the world.For more information, visit www.MSCI.org, MSCI’s new online resource MSCI.org/Edge, like us on Facebook, follow us on Twitter, and connect with us on LinkedIn.