The Biden administration has announced a series of historic measures aimed at protecting America’s steel industry and creating 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 was developed in close collaboration with industry stakeholders and unions who have experienced the impacts of China’s unfair trade practices first-hand for years. It is also an approach in which we are working with our partners and allies, who are also feeling the effects of China’s overcapacity and. of exports at artificially low prices. President Biden has made clear that his vision for the future does not leave American workers and communities behind. And today he continues to deliver on that promise.”
Here are the steps Biden is taking:
According to a White House fact sheet:
In response to China’s unfair practices, the Biden-Harris administration is taking new measures today
historic actions to support American steel production and shipbuilding.
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• President Biden is asking USTR to consider tripling the current 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 most labor-intensive in terms of emissions in the world. Chinese policies and subsidies for the domestic steel and aluminum industries mean that high-quality U.S. products are undermined 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 the findings of its investigation, President Biden requests that USTR consider improving the effectiveness of tariffs on Chinese products of steel and aluminum tripling them.
• President Biden’s Commerce Department is cracking down on countries and importers that don’t play by the rules and flood the market with cheap products. Since President Biden took office, the Commerce Department has imposed more than 30 antidumping and countervailing duties on steel-related products. These are tariffs on steel imports at prices below fair and competitive value. The Commerce Department has also conducted nearly 27 investigations into anticompetitive actions by Chinese exporters and efforts by countries like China to circumvent trade rules.
• President Biden is directing his senior team to work with Mexico to prevent China’s evasion of tariffs on steel and aluminum imported from Mexico into the United States. This is a growing challenge that must be addressed to prevent Chinese steel exports from entering the US market with USMCA tariffs.
• The United States Trade Representative is launching an investigation into China’s unfair trade practices in the shipbuilding, maritime and logistics industries. This investigation follows a petition filed by the United Steelworkers (USW) and four other unions that argue that the Chinese government’s drive to dominate the global shipbuilding, marine and logistics industry is based on far more aggressive non-market policies. and interventionist than any other country. President Biden believes it is critical to understand China’s particularly aggressive interventions in these sectors and take actions that address distortions in the global market for commercial shipping, shipping and logistics that harm American workers and shipbuilders.
• President Biden is committed to keeping America’s steel companies strong, powered by American steel workers. In light of the proposed sale of US Steel to Nippon Steel, President Biden will continue to make clear that US Steel has been an iconic American steel company for more than a century and that it is critical that it remains an American steel company that is owned and national management.
• 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 and Inflation Reduction Act, recently announced up to $1.5 billion for six clean steel projects as part of a broader historic investment to reduce industry emissions high energy intensity. These projects are intended to demonstrate innovative technologies that can eliminate the vast majority of emissions from steel production and allow the industry to phase out more traditional carbon-intensive production methods. They will support the economic comeback of steel communities in Pennsylvania, Ohio, the South and the Midwest, so that the U.S. steel industry can remain competitive as a global leader in low-carbon steel products.
These investments include up to $75 million for the only high-silicon grain-oriented electrical steel plant in the United States in Lyndora, Pennsylvania, which supports more than 1,000 United Autoworker jobs at the Butler Works plant in Cleveland -Cliffs and up to $500 million for the Cleveland plant -Cliffs plant in Middletown, Ohio, to produce clean steel for the automotive supply chain.
Biden is doing what Trump had hoped to do on the campaign trail.
President Biden puts American workers and American steel first. Biden understands that the American economy must get back to doing things, to maintain its status as the most dominant economy in the world.
Joe Biden understands that a strong workforce with good jobs and good wages leads to a strong economy.
While Trump wants to protect billionaires, Biden protects American workers.
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