US steel industry united in calling to support currency reform legislation

US steel industry united in calling for House members to support currency reform legislation.

Five key steel organizations, including the American Iron and Steel Institute (AISI), the United Steelworkers, the Committee on Pipe and Tube Imports, the Specialty Steel Industry of North America and the Steel Manufacturers Association, today sent a letter to all the members of the U.S. House of Representatives urging their support of the amended version of H.R. 2378, The Currency Reform for Fair Trade Act. The bi-partisan legislation, introduced by Rep. Tim Ryan (D-Ohio) and Tim Murphy (R-Pa.), was amended and reported by the House Ways and Means Committee last Friday, September 24, 2010, and is expected to be considered by the full House later this week. “This legislation, will, at long last, allow America’s manufacturing firms and workers to fight back against the pernicious practice of foreign government currency manipulation,” the letter emphasized.

Commenting on the industry-wide letter, AISI President and CEO Thomas J. Gibson said, “The steel industry has worked for many years to fight against unfair trade policies that deliberately place U.S. manufacturers at a significant disadvantage. We hope that the House will fight for U.S. manufacturers and their workers by supporting this critical piece of legislation.”