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Steel Industry Praises Launch of Global Forum on Overcapacity

(Jeff Yoders – Metal News)

The American Iron and Steel Institute (AISI) commended the formation of a Global Forum on Steel Excess Capacity, which launched its first meeting last week in Berlin.

Thomas J. Gibson, AISI president and CEO, said, “We are pleased that this important Global Forum began its work yesterday, and especially appreciate the leadership and commitment of the U.S. government representatives to address the global steel overcapacity crisis and the market-distorting policies and practices that have enabled it. The high levels of unfairly traded steel imports in the U.S., and the massive build-up in steel capacity in other countries that fuels it, are the most critical issues facing the steel industry today.  We look forward to the Global Forum continuing to engage key countries in a cooperative effort to help level the playing field for the North American steel industry.”

The formation of the Global Forum was agreed to by the G20 leaders at the Hangzhou China summit in September. It brings together more than 30 economies, all G20 members plus interested Organization for Economic Cooperation and Development members. Click here to read more.

Related: Statement by Secretary of Commerce Penny Pritzker and U.S. Trade Representative Michael Froman (Office of the USTR)