Speakers at AMMs
Steel Success Strategies XXVIII conference in New York June
17-19 who dealt with steel policy issues landed on one theme:
overcapacity. It was no surprise to anyone that the
finger-pointing all centered on China. This was a very typical
steel meeting, and all followed the script as if it had been
complaints aimed at China, it should be apparent by now that
there is no quick fix available. If we are to make any tangible
progress, it would have to be achieved through negotiation. We
would go to the table with three accusations:
prohibits foreign ownership of protected industry.
manipulates its currency.
3. China is a
non-market economy and steel is a subsidized industry.
politely to our catalog of complaints, China would respond:
1. The United
States has vetoed Chinas efforts to invest in ownership
of U.S. businesses.
2. The United
States certainly manipulates its currency.
3. The United
States is a non-market economy that subsidizes its steel
industry (the Peoples Republic of Arkansas and Big River
Our negotiators would
have a difficult time!
T.C. Graham Associates