Commentary: Steel Shines as Example of Trade Imbalance

In a column published in The Hill by Kevin Kearns, president of the U.S. Business and Industry Council, he calls on President Trump to make good on a commitment to put an end to unfair trade practices, and Kearns focuses on the steel industry as an example of the imbalance.

“Foreign steel is surging into the U.S.,” he writes, “with year-to-date imports up 19.4 percent over the same period in 2016. Finished steel imports—those with the highest value-added—now account for 28 percent of the domestic market.

“Global steel overcapacity, much of it Chinese, is estimated to be 700 million metric tons—more than six times total U.S. capacity.

“And, China’s promises to address its bloated, state-owned steel industry have proven hollow.”

Kearns writes that part of the problem is White House officials who fear retaliation and prefer to protect rather than confront countries with unfair trade practices.

He calls on the White House to “draw a bright line against those foreign companies and nations used to living off of unfair trade practices.”

Read the column in its entirety here.