May 25 2005
On behalf of its U.S. member companies, the American Iron and Steel Institute (AISI) has submitted comments to the Subcommittee on Trade of the U.S. House of Representatives' Committee on Ways and Means regarding future prospects for U.S. involvement in the World Trade Organization (WTO).
The submission points out several critical issues for the Subcommittee to consider when debating future membership in the WTO. They include: (1) the U.S. manufacturing crisis and unsustainable trade deficits, which demand that the problems with the international system by rectified; (2) the clearly broken and non-transparent dispute settlement system, under which WTO panels and the WTO Appellate Body have issued numerous rogue decisions, which have disregarded the proper standard of review; and (3) unfair, inexplicable or ineffective global rules and practices with regard to border-adjustability of taxes, currency manipulation and export restrictions on raw materials, which are harming U.S. workers and businesses. The submission urges needed reforms and actions, including vigorous efforts to: preserve and enhance trade laws in the Doha Round; overturn rogue WTO decisions on trade laws; resist any weakening of trade remedy laws; push for changes to strengthen the trade laws; and reform the WTO dispute settlement system.
AISI serves as the voice of the North American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 32 member companies, including integrated and electric furnace steelmakers, and 118 associate and affiliate members who are suppliers to or customers of the steel industry. AISI's member companies represent approximately 75 percent of both U.S. and North American steel capacity. For more news about steel and its applications, view AISI's website at www.steel.org.
http://www.steel.org/