Representatives of five major NAFTA steel associations met with representatives of the Latin American Iron and Steel Association (ILAFA) to discuss trade and other policy issues of concern. The participating steel organizations agreed that market forces and market-driven behavior are now more important than ever. They also expressed a shared concern that the severe deterioration in world steel market conditions poses a renewed and serious threat of major steel trade distortions. The associations urged all Western Hemisphere governments to remain vigilant and firmly committed to strong enforcement of national trade laws against non-market behavior by China.

NAFTA organizations participating included the American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), Specialty Steel Industry of North America (SSINA), Canadian Steel Producers Association (CSPA) and the Mexican Steel Producers Association (CANACERO). The organizations reaffirmed their support for private ownership of steel companies everywhere, ending investment restrictions in steel industries and eliminating government subsidies to steel and steel-related industries.