You Want Fair? You Want Free – from Government Imposition
We recently discussed a bipartisan group of Senators and House members who correctly identified a global trade problem and its negative domestic ramifications.
57 Senators and 152 House members…sign(ed) letters to Barack Obama Administration Secretary of Commerce Penny Pritzker. In which they expressed concern about inexpensive Korean steel being in mass quantities imported here….
Why is the bipartisan contingent concerned about the cheap Korean steel dumping? American job loss.
“U.S. steel producers employ 8,000 workers across the country making OCTG. Each of these jobs supports seven additional jobs in the supply chain and the steel produced for the U.S. energy market accounts for approximately ten percent of domestic production.”
These officials are asking the Administration to ensure Korea is adhering to its trade pact commitments.
“As this case proceeds, we urge you to ensure that the Department’s investigation is objective and accurate and to closely verify the information submitted by the Korean producers. Strict and full enforcement of our trade laws is essential for the future of the U.S. steel industry, its workers, and steel communities throughout the country.”
Which is of course perfectly reasonable. If Korea isn’t doing what it said it would, there should be consequences and repercussions. As Mexico too is hopefully about to find out.
For the long run, we need to begin laying the groundwork for making these trade deals a whole lot freer – and fairer. Far less complicated – and thus much better. And thus easier with which to comply – and when necessary to enforce. More