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Steel Industry Calls for Currency Reform Legislation
Sep. 28, 2010 Five key steel organizations, including the American Iron and Steel Institute (AISI), the United Steelworkers, the Committee on Pipe and Tube Imports, the Specialty Steel Industry of North America, and the Steel Manufacturers Association, have sent a letter to all the members of the U.S. House of Representatives urging their support of the amended version of H.R. 2378, The Currency Reform for Fair Trade Act.
The bipartisan legislation, introduced by Rep. Tim Ryan (D-Ohio) and Tim Murphy (R-Pa.), was amended and reported by the House Ways and Means Committee on Sept. 24, 2010, and is expected to be considered by the full House by the end of September.
“This legislation, will, at long last, allow America’s manufacturing firms and workers to fight back against the pernicious practice of foreign government currency manipulation,” the letter reads.
AISI President and CEO Thomas J. Gibson said, “The steel industry has worked for many years to fight against unfair trade policies that deliberately place U.S. manufacturers at a significant disadvantage. We hope that the House will fight for U.S. manufacturers and their workers by supporting this critical piece of legislation.”
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. The Institute, which plays a lead role in the development and application of new steels and steelmaking technology, comprises 23 member companies, including integrated and electric furnace steelmakers, and 138 associate and affiliate members who are suppliers to or customers of the steel industry.