Washington, D.C. – Steel Manufacturers Association (SMA) president Philip K. Bell commented today on the report released by the G20 Global Forum on Steel Excess Capacity:
“SMA appreciates the leadership, participation and work of the U.S. government to address global steel overcapacity. This was a long process and the report confirms that there is an intense need to eliminate market distorting subsidies and state sponsored capacity expansion.”
Bell added “While it is good to see the cooperation between countries and to continue diplomatic efforts to deal with this issue, until the forum identifies specific measures, timetables and targets the overcapacity problem will persist. This is a first step in a process that I hope becomes more robust over time. As we wait to see further progress, U.S. steel producers must continue to insist on vigorous enforcement of U.S. trade laws, and a timely conclusion of the Section 232 investigation that includes positive remedy proposals “.
SMA is North America’s largest steel industry trade association, and the primary association for electric arc furnace steel producers. SMA’s 25 producer member companies account for over seventy-five percent of total domestic steelmaking capacity and have operations in 43 U.S. states and 115 congressional districts . For more information visit SMA’s website at www.steelnet.org or our Facebook page.