China’s Steel Industry and Its Impact on the United States: Issues for Congress
MetadataShow full item record
[Excerpt] The rise of China’s steel sector, along with other manufacturing industries, presents issues beyond trade law enforcement. China’s quest for industrial raw materials is having considerable effect on global demand and supply, and as a result, the prices and availability of such inputs. China’s restrictions on exports of some raw materials, allegedly, lower the cost of such raw materials in the home economy, while increasing global prices of these products (or diminishing global supply), thereby producing an unfair advantage in some manufacturing industries. Amid the rising trade cases against various Chinese steel imports, Congress became increasingly concerned over alleged unfair trade competition from China. In August 2010, legislative measures were introduced in the Senate (S. 3725), while a set of measures focusing on illegal import practices were proposed by the U.S. Commerce Department, both aiming to continue the rigorous and more effective enforcement of U.S. trade laws. This report provides an overview of China’s steel industry and discusses the issues and implications with regard to the U.S. steel sector.
China; steel industry; trade; Congress; trade law; public policy