AISI Applauds Biden China Tariff Hike Announcement

WASHINGTON, D.C. - President Joe Biden today announced that he is calling on the U.S. Trade Representative to consider tripling the existing Section 301 tariff on Chinese steel, and reiterated that the American steel industry is the global leader in clean steel production. Kevin Dempsey, president of the American Iron and Steel Institute (AISI), applauded the announcement:

"AISI is very concerned about the recent significant increase in Chinese steel exports to world markets and welcomes President Biden's actions to strengthen U.S. tariffs on steel from China and to take other actions to address the threats from China's unfair trade practices. As the largest contributor to the global steel overcapacity problem, China continues to engage in widespread unfair trade practices that harm American steel producers," Dempsey said. "According to the OECD, Chinese steel exports grew from 68 million metric tons in 2022 to 95 million metric tons in 2023, a 40 percent increase in just one year. While we have not yet seen a similar surge in direct Chinese steel shipments to the United States, Chinese steel exports to third country markets often are further processed into other steel or downstream manufactured products that are then exported to the U.S. market.

"China disrupts world markets both by subsidizing the production of steel and other products and by dumping those products in the U.S. and other markets. The Chinese government is also expanding its unfair trade practices beyond its borders by subsidizing its steel producers in building additional export-oriented steelmaking capacity outside of China - particularly in Southeast Asia through the Belt and Road Initiative. AISI very much appreciates the Biden administration's continuing efforts to push back on Chinese and other foreign unfair trade practices that hurt American steel producers and their workers," he concluded.

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Contact: Lisa Harrison

202.452.7115 / [email protected]

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI's membership is comprisedof integrated and electric arc furnace (EAF) steelmakers reflecting the production of both carbon and stainless steels which are critical to the everyday lives of all Americans - including national security, roads and bridges, the electrical grid, clean energy technologies and the automotive market. AISI also representsnearly 80associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI's website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter(@AISISteel) or Instagram.