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AMERICAN IRON AND STEEL INSTITUTE SUPPORTS PRESIDENT’S PRIORITIES FOR BOOSTING MANUFACTURING;  URGES ADMINISTRATION TO ADJUST REGULATORY BURDEN, TAKE TOUGHER STANCE ON CHINA TRADE


Washington, D.C. – Supporting President Obama’s challenge to invest in America’s future issued during comments delivered to the U.S. Chamber of Commerce, the American Iron and Steel Institute (AISI) agreed that American workers nationwide will benefit if the nation is able to increase exports and rebuild America’s infrastructure.

“We endorse the President’s call to to put more people to work rebuilding crumbling roads and bridges,” AISI President and CEO Thomas J. Gibson said. “The steel industry agrees this should be an immediate focus and we are urging that Congress approve a new multi-year surface transportation act that will provide an adequate level of funding for significant infrastructure projects with an emphasis on highways and specifically bridges.   This will not only make America a better place to do business, it will also put Americans back to work in high-paying jobs.”  Gibson said the Department of Transportation reports that every $1 billion federally invested in highway capital supports nearly 35,000 American jobs.
“We are also on record supporting the President in his goal of doubling U.S. exports by 2015,” Gibson said.  “In that regard, we agree with his desire for ‘an economy that's based on what we make and sell around the world.’  But to achieve that, we must have a level playing field for American manufacturers.  The most egregious competitive disadvantage we face at present is China’s undervaluation of its currency by as much as 40 percent, which directly undercuts U.S. manufacturers and is costing valuable American jobs.   Our nation must get tough with China on currency and other abusive trade practices before we can achieve this laudable goal.”

Gibson said the President is on the right track with his stated goal of eliminating ‘outdated and unnecessary regulations’ that hamper economic growth.    He said AISI believes, however, that the Environmental Protection Agency’s (EPA) regulation of greenhouse gas emissions from stationary sources will have to be addressed by Congress. 

“These regulations will negatively impact American manufacturing jobs by adding to our domestic regulatory burden even while emissions continue to increase from sources in nations without similar regulations,” Gibson said.  “Members of Congress in both the Senate and the House of Representatives understand that unilateral climate regulation will not result in any emissions reductions if production is merely shifted offshore.  Perversely, it will only result in increased emissions as we import steel and steel-containing goods from economies that are less efficient than our own.  We look forward to working with Congress to push back these misguided regulations that will simply shift American jobs and emissions to unregulated nations.”

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