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Washington, D.C. – Congressman Pete Visclosky and 31 Members of the Congressional Steel Caucus today endorsed legislation that would allow American steelmakers and all manufacturers to obtain relief from illegally subsidized imports from all countries. The legislation, called the Nonmarket Economy Trade Remedy Act of 2007 (HR 1229) was introduced by U.S. Representatives Artur Davis (D-AL) and Steel Caucus Vice-Chairman Phil English (R-PA), and has been referred to the Committee on Ways & Means. As Chairman of the Congressional Steel Caucus, Visclosky is a co-sponsor of the legislation.
In a letter urging the Committee to look favorably on this legislation, Visclosky and the Steel Caucus Members wrote, “American steel manufacturers and workers are increasingly faced with unfair trade competition from subsidized imports.” The letter also stated, “In our view, this bipartisan legislation is needed to fix a longstanding inequity in U.S. trade law and to expand the ability of American steelmakers, and indeed all manufacturers, to obtain relief from illegally subsidized imports from all countries.
Specifically, the Nonmarket Economy Trade Remedy Act of 2007 would put an end to the U.S. having to compete unfairly against illegally subsidized imports by amending Title VII of the Tariff Act of 1930 to explicitly require the Department of Commerce to accept Countervailing Duty cases against nonmarket economies. In addition, H.R. 1229 would create a new mechanism in which Congressional approval would be required to implement a decision by Commerce to “graduate” a country from nonmarket to market economy status. Finally, the measure would direct the International Trade Commission (ITC) to conduct an annual study of Chinese government intervention to promote investment, employment and exports. The ITC would be directed to submit its findings to Congress every year through 2017.
Outsourcing, China hampers domestic steel industry
Visclosky believes the legislation will allow the American steel industry to compete on a level playing field, and will slow the flow of good-paying American manufacturing jobs that have been sent overseas. “Too many good-paying jobs have been shipped overseas, and the time is past due to strengthen our local steel and manufacturing industries,” said Visclosky. “With China producing more and more illegally subsidized steel, our country will continue to be put at a competitive disadvantage unless we act now.”
Visclosky to Testify before Key Committee
Visclosky will also make his case to the committee with jurisdiction over the legislation. On Thursday, March 15, 2007 at 1:00 pm in Room 1100 of the Longworth House Office Building, Visclosky will testify before the Ways and Means Subcommittee on Trade, urging them to advance this legislation. |
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