Illegal trade hindering US recovery: Ferriola

May 23, 2012 | 02:32 PM | Anne Riley

Tags  John Ferriola, Nucor, steel, Wire Rod Supply Chain Conference, AMM, American Wire Producers Association, Anne Riley

DALLAS — The continued use of illegal trade practices by a number of so-called trading "partners" threatens to keep the U.S. economy from full-blown recovery, according to Nucor Corp. president and chief operating officer John Ferriola.

"Our trading ‘partners’ have been happy to take advantage of our openness," Ferriola said in his keynote address at the Wire Rod Supply Chain Conference in Dallas co-hosted by AMM and the American Wire Producers Association.

"Globalization is a good thing—it expands our markets, it creates new trade relationships, it allows goods and raw materials to flow around the planet," he said. "But when governments ignore or break the rules by which we agree to trade by engaging in currency manipulation, stealing intellectual property, handing out illegal export subsidies or intervening in commodity negotiations, then our business—your businesses—are forced to compete against entire nations."....