Last updated on April 18th, 2024 at 06:22 pm
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The Biden administration has announced a series of historic steps designed to protect the American steel industry and create good-paying jobs.
During a call with reporters, a senior administration official described President Biden’s approach to protecting the steel industry, “The President’s approach is strategic, balanced and targeted, and it has been developed in close partnership with industry stakeholders and unions who have directly lived through the impacts of China’s unfair trade practices for years. It is also an approach where we are working with our partners and allies, who also are feeling the effects of China’s overcapacity and artificially low priced exports. President Biden has made it clear that his vision for the future is one that doesn’t leave American workers and communities behind. And today he continues to deliver on that promise.”
Here Are The Steps That Biden Is Taking:
According to a White House fact sheet:
In response to China’s unfair practices, today the Biden-Harris Administration is taking new,
historic actions to support American steel manufacturing and shipbuilding.
• President Biden is calling on the USTR to consider tripling the existing 301 tariff rate on Chinese steel and aluminum. The current average tariff on steel and aluminum is 7.5% under Section 301. American workers continue to face unfair competition from Chinese imports of steel and aluminum products, which are among the world’s most emissions-intensive. Chinese policies and subsidies for their domestic steel and aluminum industries means high-quality U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions.
To the extent consistent with the United States Trade Representative’s (USTR) review of Section 301 tariffs and findings of her investigation, President Biden is calling for USTR to consider enhancing the effectiveness of tariffs on Chinese steel and aluminum products by tripling them.
• President Biden’s Department of Commerce is taking action against countries and importers that do not play by the rules and flood the market with cheap products. Since President Biden took office, the Department of Commerce has imposed over 30 anti-dumping and countervailing duties on steel-related products. These are tariffs on steel imports that are priced below the fair and competitive value. The Department of Commerce has also conducted nearly 27 investigations into anti-competitive actions by Chinese exporters and efforts by countries like China to evade trade rules.
• President Biden is directing his senior team to work with Mexico to prevent China’s evasion of tariffs on steel and aluminum that is imported from Mexico into the United States. This is a growing challenge that must be addressed to prevent Chinese steel exports from gaining access to the U.S. market under USMCA tariff rates.
• The United States Trade Representative is initiating an investigation into China’s unfair trade practices in shipbuilding, maritime and logistics sectors. This investigation follows a petition filed by the United Steelworkers (USW) and four other unions who claim the Government of China’s drive to dominate the global shipbuilding, maritime, and logistics sector is built on non-market policies that are far more aggressive and interventionist than any other country. President Biden believes it is critical to understand China’s uniquely aggressive set of interventions in these sectors, and to take actions that address distortions to the global market for commercial vessels, maritime shipping, and logistics that harm American workers and shipbuilders.
• President Biden is committed to maintaining strong American steel companies powered by American steelworkers. In light of the proposed sale of U.S. Steel to Nippon Steel, President Biden will continue to make clear that U.S. Steel has been an iconic American steel company for more than a century, and that it is vital for it to remain an American steel company that is domestically owned and operated.
• President Biden is investing in clean American-made steel. Today’s announcements build on the Administration’s commitments to green steel production.
The Biden-Harris Administration, through the Bipartisan Infrastructure Law and the inflation Reduction Act, recently announced up to $1.5 billion for six clean iron and steel projects as part of a historic broader investment to lower emissions from energy-intensive industries. These projects are set to demonstrate innovative technologies that can eliminate the vast majority of emissions from steelmaking and enable the industry to phase out more traditional carbon-intensive production methods. They will support the economic comeback of steel communities in Pennsylvania, Ohio, and the South and Midwest, so the U.S. steel industry can remain competitive as the global leader in low- carbon iron and steel products.
These nvestments include up to $75 million for the only high-silicon grain oriented electrical steel plant in the U.S. in Lyndora, Pennsylvania that is sustaining more than 1,000 United Autoworker jobs at the Cleveland-Cliffs Butler Works plant and up to $500 million for the Cleveland-Cliffs plant in Middletown, Ohio to produce clean steel for the auto supply chain.
Biden is doing what Trump campaigned on doing.
President Biden is putting American workers and American steel first. Biden understands that the US economy must get back to making things, in order to maintain its status as the most dominant economy in the world.
Joe Biden understands that a strong workforce with good jobs and wages leads to a strong economy.
As Trump wants to protect billionaires, Biden is protecting American workers.
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