US Steel association to update new rules against dumping Steel
NEW YORK (Scrap Register): With Mexico, United States and Canada becoming the dumping ground for cheap steel from other countries, the top steel makers association is planning for a better coordination and enforcement of rules under a renegotiated North American Free Trade Agreement in order to save the dumping problem.
“The American steel industry views NAFTA as a successful agreement but after 23 years, one that can also be modernized and strengthened,” Thomas Gibson, head of the American Iron and Steel Institute (AISI).
The U.S. Trade Representative has asked the various industries around the country to submit recommendations this week ahead of NAFTA talks.
Gibson also said enforceable currency disciplines should be added to NAFTA in order avoid trade-distorting currency misalignment or competitive currency depreciation.
Most industries and businesses in United States have advised not to dismantle NAFTA, but to modify and update it. Meanwhile, the National Foreign Trade Council said the talks should create more open markets and better rules, not new restrictions.