China is dumping cheap steel in this country at prices far below fair market value. How is this possible? Through enormous energy subsidies funded by the US and the WTO. That’s how.
China’s unfair trade practices simply devastate American industry as they target sector after sector. But, once again, those cheap Chinese exports to this country are having their desired affect on the American worker.
According to a new report commissioned by the Alliance for American Manufacturing (AAM), the Chinese government has exponentially boosted its steel output over the last three years through massive, trade-distorting energy subsidies. I know. You’re shocked! Steel production requires enormous amounts of energy, like supplies of thermal and coking coal, electricity, and natural gas. This keeps the already low labor and production costs below anything we could imagine at home.
China has identified steel as a strategic industry and is now the largest producer and consumer of steel in the world. Accounting for 40 percent of the global market, China is the largest steel exporter in the world and is directly responsible for the loss of 2 million US jobs since it joined the WTO in 2006.
The energy subsidies to the Chinese steel companies reached $16 Billion last year. Your tax dollars at work. The steel China is producing is loaded with flaws which aren’t discovered until it is used in American bridges and buildings. The new bridge on Chandler Drive in Kingston (pictured right)? Yep, Chinese steel. Erected by the lowest bidder for NY State and using the cheapest materials to increase profits. Projected lifespan of 80 years, but realistically...40.
China’s unfair trade practices simply devastate American industry as they target sector after sector. But, once again, those cheap Chinese exports to this country are having their desired affect on the American worker.
According to a new report commissioned by the Alliance for American Manufacturing (AAM), the Chinese government has exponentially boosted its steel output over the last three years through massive, trade-distorting energy subsidies. I know. You’re shocked! Steel production requires enormous amounts of energy, like supplies of thermal and coking coal, electricity, and natural gas. This keeps the already low labor and production costs below anything we could imagine at home.China has identified steel as a strategic industry and is now the largest producer and consumer of steel in the world. Accounting for 40 percent of the global market, China is the largest steel exporter in the world and is directly responsible for the loss of 2 million US jobs since it joined the WTO in 2006.
The energy subsidies to the Chinese steel companies reached $16 Billion last year. Your tax dollars at work. The steel China is producing is loaded with flaws which aren’t discovered until it is used in American bridges and buildings. The new bridge on Chandler Drive in Kingston (pictured right)? Yep, Chinese steel. Erected by the lowest bidder for NY State and using the cheapest materials to increase profits. Projected lifespan of 80 years, but realistically...40.China shipped 5.4 million tons of steel to the U.S. in 2006 and not one ounce was checked for quality standards.
I would ask that our government stop buying Chinese steel, aiding in the downward production here, and stop throwing US tax dollars in subsidies to the competition.
I would ask that our government stop buying Chinese steel, aiding in the downward production here, and stop throwing US tax dollars in subsidies to the competition. Hey, lets go a step further and demand that our individual municipalities limit our purchases of steel and everything else to US made products, that is, if they still exist.
There's nothing manufactured at the US factory pictured left.
American Made Products and/or Services Made in USA
American Made Products and/or Services Made in USA
1 comment:
Bravo...necessary indeed - in every way.
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