Provision will help American workers and manufacturers fight back against unfair trade.
When the House of Representatives voted to reauthorize Trade Adjustment Assistance (TAA) on Thursday, it also gave the thumbs-up to bipartisan legislation that will make it easier for U.S. manufacturers and workers to seek relief from unfair foreign trade.
Once signed into law, this trade enforcement language will make it easier for American workers and manufacturers to hold trade cheats accountable. Right now, workers and companies must face mass layoffs and factory closures before seeking remedy under our nation’s trade laws.
The new language means American workers won’t lose their jobs while waiting for the U.S. government to stand up for them.
U.S. Steel Corporation President and CEO Mario Longhi said in a statement that passage of the legislation “represents a victory for our efforts to level the playing field with countries who have taken advantage of our nation’s trade laws for far too long.”
“The TAA legislation clarifies the injury standard in dumping and countervailing duties cases – the interpretation and enforcement of which have been weakened and become a less-effective tool to counter 21st century trade practices mastered by foreign companies and governments,” Longhi said. “By the time 'injury' has occurred and can be demonstrated, our markets have already been flooded with unfairly traded goods leading to suppressed prices, plant closures and layoffs.”
In 2014, for example, thousands of workers rallied across the country against a surge of steel imports from countries such as South Korea. Heavily subsidized, these imports were priced below fair market value and in deceptive ways that circumvented international trade laws.
Manufacturers and workers filed a successful trade case to seek remedy against the imports, and the International Trade Commission eventually issued tariffs on the imported steel pipes. But getting to that conclusion took a long time, and factories were idled during the process.
With passage of the trade enforcement legislation, workers and companies can take action sooner — and hopefully see the government provide relief before layoffs and closures happen.
“We have fought, and will continue to fight, for fair trade. However, our fight to prevent unfairly traded products from flooding our shores does not end here,” Longhi added. "We remain resolute and will use all tools available, including this improved injury definition, to address illegal dumping and subsidized imports that injure the health of our company and employees.”
Illinois Reps. Mike Bost and Rodney Davis, who introduced the legislation in the House, praised its passage.
“Our legislation strengthens America’s trade remedy laws, and that’s a win for the steel industry in Southern Illinois and for other industries that suffer the consequences of illegal foreign trade practices,” Bost said. “Without the reforms … American businesses would continue to suffer significant — and often, permanent — harm before they can seek relief. I’m proud the House joined Rep. Davis and me in restoring common sense to these laws.”