By Doug Cunningham, April 19, 2016
The United Steelworkers Monday filed a section 201 petition against China's aluminum industry trade practices. USW President Leo Gerard explains why the union filed the case.
[Leo Gerard]: "China's over-capacity has depressed world prices by creating global imbalance between supply and demand. Imports that depress global prices have led to collapse in prices in the United States and the closure and idling of facilities here and the loss of thousands of jobs. This has led us to file this case."
Gerard says the steelworkers want the U.S.government to negotiate an end to China's over-capacity in the critical aluminum industry. The union has also filed a relief plan to support competitive aluminum prices.
[Leo Gerard]: "China's policies have created an economic tsunami that has destroyed the global price of aluminum, with the affect of rising imports causing serious injury to American companies and to our members."
Gerard says the aluminum industry is a very important economic sector to aerospace and to national security and the U.S. government needs to stop China's subsidized over-capacity to protect the U,.S. aluminum industry.
U.S. Senator Ron Wyden of Oregon agrees with Gerard and the steelworkers on this trade issue.
[Sen. Ron Wyden]: "China's industrial policy is distorting global markets and it is costing America jobs. Jobs in industries from steel to solar and aluminum. Here's the problem. China built far too many aluminum plants. As a result global aluminum prices crashed. That caused lower prices for our aluminum producers, and that's what has cost the good-paying family wage jobs across the country."
Senator Wyden says the U.S. government must act as the steelworkers are requesting.
[Sen. Ron Wyden]: "Our country badly needs a bulwark against this economic tidal wave. That's why I am standing in lockstep with the steelworkers and Leo Gerard, because without immediate economic relief our country is in danger of losing thousands of good-paying American jobs."
Wyden says he'll use his position on the Finance Committee to continue to fight for U.S. jobs.
[Sen. Ron Wyden]: "My top priority on the finance committee has consistently been to go to the mat to fight tooth and nail for American workers. That's been my priority since I became chairman of the finance committee and it's now my priority as ranking member."