U. S. Steel President And CEO Applauds Congress For The Passage Of Trade Promotion Authority And Trade Adjustment Assistance
Critical first step taken in leveling the playing field for American manufacturing and American workers
PITTSBURGH, June 25, 2015 /PRNewswire/ -- Today United States Steel Corporation (NYSE: X) President and CEO Mario Longhi issued the following statement in response to the passage of the Trade Promotion Authority (TPA) and Trade Adjustment Assistance (TAA) bills.
Longhi's statement follows:
"I applaud Congress for passing groundbreaking trade legislation, giving President Obama the authority to negotiate strong trade agreements and open new markets for American goods and services while protecting American manufacturing and American workers. The reauthorization of TAA, which supports displaced workers affected by unfair trade, also provides new language to ensure our trade laws confront unfair trade practices in the U.S. market. These legislative developments represent a victory for our efforts to level the playing field with countries who have taken advantage of our nation's trade laws for far too long.
"The TAA legislation clarifies the injury standard in dumping and countervailing duties cases – the interpretation and enforcement of which have been weakened and become a less-effective tool to counter 21st century trade practices mastered by foreign companies and governments. By the time 'injury' has occurred and can be demonstrated, our markets have already been flooded with unfairly traded goods leading to suppressed prices, plant closures and layoffs. This legislation allows American manufacturers to seek adequate and timely relief under U.S. trade laws.
"We have fought, and will continue to fight, for fair trade. However, our fight to prevent unfairly traded products from flooding our shores does not end here. We remain resolute and will use all tools available, including this improved injury definition, to address illegal dumping and subsidized imports that injure the health of our company and employees."
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 200 company with major production operations in the United States and Europe and an annual raw steelmaking capability of 24.4 million net tons. The company manufactures a wide range of value-added steel sheet and tubular products. For more information about U. S. Steel, please visit www.ussteel.com.
SOURCE United States Steel Corporation
For further information: Courtney Boone, (412) 433-6791, Sarah Cassella, (412) 433-6777