17 AUGUST 2017AlCircle.com
U.S. Senate Minority Leader speaks against Chinese subsidies and overcapacity
Edited by : beethika biswas
2 min read
<p>On Tuesday August 15, U.S. Senate Minority Leader Charles E. Schumer said that cheap aluminium and steel imports from China and other countries are impacting Alcoa and other domestic aluminium and steel companies.</p>
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<p>“There are top notch manufactures like Alcoa and Nucor ready to provide high-quality aluminum and steel to businesses in and around the country, but China’s overproduction has resulted in a substantial threat to Upstate New York’s metal industry by making it almost impossible for companies that play by the rules to compete,” said Sen.</p>
<p>He has urged officials to put pressure to China against subsidies and use U.S. trade laws to eliminate “unfair competition” and maintain a level playing field.</p>
<p>“The aluminum and steel we use to build our planes, trains and bridges should be proudly stamped ‘Made in America’,” Schumer said.</p>
<p>He has made these points in his letters to Secretary of Commerce Wilbur L. Ross Jr. and United States Trade Representative Robert Lighthizer.</p>
<p>“New York is home to two large aluminum manufacturers: Alcoa, which employs 600 workers in Massena and Novelis, which employs around 1,180 workers in Oswego. The ability of these companies to compete has been impaired by China’s market distorting practices, including its large government subsidies which have resulted in enormous overcapacity,” he wrote.</p>
<p>He also expressed his concern over the closing of about 18 primary aluminium smelters in the U.S. since 2000. He cited International Trade Commission’s recent Sec. 332 report which has confirmed that China’s market distorting subsides have negatively impacted the US aluminium industry.</p>
<p>Sen. Schumer opined that subsidies from China and other countries violate trade rules “and threaten Upstate New York manufacturers.”</p>
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<p>Sen. Schumer said reports regarding import restrictions resulting from the 332 investigations have caused a surge in these exports to the United States. He expects 332 investigations to result in broad-based action to curb steel and aluminium imports from many countries. He has urged administration to take actions to safeguard New York’s aluminium and steel industries and their competitiveness by prioritizing Chinese overcapacity and subsidized production. </p>
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