USA, Pittsburgh: As the United States Trade Representative called a hearing on the global steel industry and its impact on the U.S. steel industry and steel market, United Steelworkers (USW) International President Leo W. Gerard urged the U.S. Government to create an immediate action plan on US steel crisis, reports Sys-Con Media.
In his testimony, Mr. Gerard urges the U.S. Government to devise an immediate action plan to address the crisis, calling for a series of specific actions, including the engagement with the European Union on some of the main issues.
According to him, over 13,500 steelworkers across the U.S. have recently received layoff notices.
"The current steel crisis is primarily caused by unfair foreign trade that includes dramatic expansions of global overcapacity. The largest source is China, which currently has more than 400 million metric tons of overcapacity.”
Mr. Gerard stressed manufacturing and steel are one of the main components of the national economy and security, forming part of the critical assets and infrastructure, such as electrical transformers and electrical transmission lines.
Source: Sys-Con Media