The American Iron and Steel Institute (AISI) applauded passage of the Leveling the Playing Field Act 2.0 as part of the America COMPETES Act by the U.S. House of Representatives. The provisions in this trade bill will strengthen U.S. trade laws by enhancing the tools available to obtain more expeditious relief against repeat offenders, addressing the growing problem of cross-border subsidization and ensuring timely completion of anti-circumvention inquiries. AISI sent a letter to all members of the House of Representatives urging passage of the trade bill as part of the America COMPETES Act.
“As China and other export-oriented economies develop new ways to evade and circumvent U.S. trade remedy orders, it is critical that our trade laws be updated to respond to these challenges,” said Kevin Dempsey, AISI president and CEO. “We are pleased that the House today has taken the first step toward adopting these important strengthening amendments to our trade laws.”
Dempsey indicated that a key example of cross-border subsidization that this legislation aims to address is the building of a 3 million metric ton stainless steel mill in Indonesia by Tsingshan Holdings Group, a Chinese steel company, with the primary purpose of exporting stainless steel to other markets around the world. China helped subsidize the development of this new steel capacity in coordination with the Indonesian government, which also imposed a ban on the export of nickel ore to incentivize stainless steel production in Indonesia.